Outcome of Board meeting held on 06.08.2025
Awaiting price reaction for this filing.
The board of Taaza International Limited (Scrip Code: 537392) approved sweeping changes following an NCLT Resolution Plan order dated 12.06.2025. The most significant action is a massive capital reduction: entire promoter shareholding will be extinguished, and 95% of public shareholding will be cancelled, with shareholders receiving Rs. 3.70 per cancelled equity share as cash payout. Public shareholders will also receive 1 new equity share (Rs. 10 face value) for every 20 shares held on the record date of 25.07.2025. The company will be renamed 'Keto Motors Limited' and pivot its main business to designing, manufacturing, and selling electric vehicles, parts, and related services. New key managerial personnel were appointed, including Mr. Rohit Aidasani as CFO (ex-Olectra Greentech, IIM Finance) and Ms. Priya Ladda as Company Secretary. New statutory, internal, and secretarial auditors were also appointed for FY 2024-25 onwards. The registered office was shifted to Secunderabad, Hyderabad.
Existing public shareholders will see their holdings reduced by 95% but receive Rs. 3.70 per cancelled share plus retain a 5% stake in a newly restructured EV-focused company. The stock is likely to see significant price discovery adjustments as the capital structure resets and the business pivots entirely to electric vehicles. Short-term volatility is expected; long-term prospects depend on execution of the new EV business plan.