Punj Lloyd Limited has informed the Exchange about Corporate Insolvency Resolution Process : In continuation of our announcement dated March 12, 2026(copy attached), we would like to inform you that in terms of SEBI Circular No. HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024 the matter regarding issuance of equity shares on private placement basis (preferential issue) was apporved by the Board of Directors of the Company in its meeting held on Monday 12, 2026, which commenced at 5.30 p.m. and concluded at 6.45 p.m.
Awaiting price reaction for this filing.
Punj Lloyd Limited, currently a Corporate Debtor under the Corporate Insolvency Resolution Process (CIRP), has had its board approve a preferential issue of 5,00,000 fully paid-up equity shares at INR 2 each, raising a total of INR 10 lakh. The allottees are Adani Infra (India) Limited (4,75,000 shares, INR 9.5 lakh) and Dincum Growth Fund Mauritius (25,000 shares, INR 50,000). This follows NCLT orders dated February 12 and February 17, 2026, approving the acquisition plan submitted by Adani Infra as the successful resolution applicant. The earlier suspended board has already been discharged and a new reconstituted board appointed on March 10, 2026 to implement the resolution plan.
This is a small equity infusion (only INR 10 lakh) but signals the formal implementation of Adani Infra's takeover of Punj Lloyd under the insolvency resolution process. Existing public shareholders will face further dilution, and the company's future direction will now be shaped by the new promoter and reconstituted board.