Outcome of the First Board Meeting of FY 2025-2026 of the Board of Directors of the Company held on Saturday, 12th April, 2025
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Alka India Limited's board held its first meeting of FY 2025-2026 on 12th April 2025, approving three major actions. First, Ms. Himali Maheshbhai Thakkar was appointed as an Additional Independent Director and will also chair the Audit Committee. Second, the board ratified the cancellation of all existing promoter and promoter group shareholding, and reduced public shareholders to just 5% of the post-restructured capital (2,50,000 equity shares). Third, under an approved resolution plan, the company allotted 47,50,000 fresh equity shares (Re. 1 each, totalling Rs. 47.5 lakh) to a new Promoter and Promoter Group, and 2,50,000 shares (Rs. 2.5 lakh) to existing public shareholders. This is essentially a corporate restructuring where new promoters are taking 95% control of the company while old promoters have been wiped out.
This represents a major ownership restructuring — a completely new promoter group is taking control with 95% of the post-restructured equity, while old promoters are fully extinguished and existing public shareholders have been diluted to a tiny 5% stake. Shareholders should watch closely for the new promoter's business plans and any revival strategy, as the company appears to be emerging from a resolution plan process.