Outcome of the meeting the Board of Directors of ALPS Industries Limited (the 'Company') intimating the Issuance and allotment of Equity Shares pursuant to the implementation of Resolution ....
Awaiting price reaction for this filing.
The board of Alps Industries approved the issuance and allotment of 7,30,02,000 equity shares of Re. 1 each, aggregating Rs. 7.30 crore, at par (face value). These shares are being issued to a consortium of successful resolution applicants as part of the company's approved Resolution Plan. The plan was approved by the NCLT via order dated November 4, 2025, indicating the company is implementing its revival plan after the insolvency process.
Existing shareholders will see dilution as new shares are issued to the resolution applicant consortium. However, the equity infusion is a positive signal of the company emerging from insolvency with fresh promoter/investor backing, which could support long-term recovery.