Punj Lloyd Limited has informed the Exchange about Corporate Insolvency Resolution Process : In contination of our disclosure dated February 12, 2026 regarding issuance of Equity Shares on private palcement basis (preferential issue) we wish to inform you that the Board of Directors of the Company in its meeting held today which commenced at 10 a.m. and concluded at 11 a.m., approved an allotment of 500,000 fully paid equity shares at par value i.e.@ Rs. 2 per equity shares (detailed letter attached)
Awaiting price reaction for this filing.
Punj Lloyd's Board approved the allotment of 5 lakh fully paid equity shares at Rs. 2 per share (total issue size Rs. 10 lakh) on a preferential basis. Adani Infra (India) Ltd along with nominees received 4,75,000 shares worth Rs. 9.5 lakh, while Dincum Growth Fund Mauritius got 25,000 shares worth Rs. 50,000. Post-allotment, the company's total paid-up share capital stands at only Rs. 10 lakh, which strongly suggests this is part of implementation of a resolution plan under the Corporate Insolvency Resolution Process, with Adani Infra emerging as the new controlling shareholder. The allotment follows a prior board approval for the preferential issue disclosed on February 12, 2026.
Existing shareholders of the old Punj Lloyd appear to have been wiped out, with the equity base rebuilt under new ownership led by Adani Infra. This is effectively a fresh start for the company — old shareholders should verify settlement terms under the resolution plan, while new investors should view this as a restructured entity re-entering the market under a new promoter.