Punj Lloyd Limited has informed the Exchange about Corporate Insolvency Resolution Process : In term of Regulation 30 read with Part A of Schedule III of SEBI (LODR) Regulations, 2015 , as amended and in continuation of our intimation(s) dated February 12, 2026, February 13, 2026 and March 10, 2026, the Board of Directors of the Company in its meeting held today approved the issuance of equity shares on private placement basis (preferential issue). (Detailed disclosure letter attached).
Awaiting price reaction for this filing.
Punj Lloyd's newly reconstituted board has approved issuing 5,00,000 equity shares on a preferential (private placement) basis at INR 2 per share, raising a total of INR 10 lakhs. Of these, 4,75,000 shares will go to Adani Infra (India) Limited (the successful resolution applicant) and 25,000 shares to Dincum Growth Fund Mauritius. This is part of the implementation of the NCLT-approved resolution plan under the Corporate Insolvency Resolution Process (CIRP), under which Adani Infra is acquiring Punj Lloyd. The old board had been suspended and a new board reconstituted to carry out the acquisition steps.
For shareholders, this confirms that the Adani Infra-led acquisition of Punj Lloyd through the insolvency process is moving into its implementation phase. However, the preferential issue size is very small (only INR 10 lakhs), suggesting this is a procedural/technical allotment rather than a meaningful capital raise. Existing public shareholders may see dilution depending on the broader resolution plan structure, and any potential open offer to public shareholders from Adani Infra would be a key next event to watch.