Outcome of board meeting held on Saturday, 21st June, 2025 inter-alia Approved the cancellation and capital reduction of existing Equity Shares consisting the paid-up share capital 3,00,73,262 ....
Awaiting price reaction for this filing.
The board of Jiya Eco-Products Ltd has approved cancellation and capital reduction of all existing equity shares — 3,00,73,262 shares of Rs. 10 each (Rs. 30.07 crore paid-up capital) — pursuant to an NCLT order dated December 11, 2024 under the Insolvency and Bankruptcy Code. The record date for the cancellation has been fixed as July 4, 2025, after which the ISIN will be deactivated. Following the cancellation, the company will consolidate every 10 equity shares of Rs. 10 into 1 share of Rs. 100, and issue 1,06,316 new shares of Rs. 100 — 95% to the new resolution applicant/promoter and 5% to eligible existing public shareholders. This effectively wipes out existing shareholdings and recapitalises the company with a new promoter in control.
Existing shareholders will lose their current shares entirely and only receive a token 5% allocation in the new share structure, meaning significant dilution of economic value. The stock is likely to see a sharp repricing as the old equity is cancelled and replaced by a much smaller new share base dominated by the new promoter — this is typical of an IBC resolution outcome and is highly risky for legacy retail holders.