Receipt of In-principle listing approval under Regulation 28(1) of SEBI LODR Regulations
Awaiting price reaction for this filing.
The company has received in-principle approval from both BSE and NSE to list its securities after reducing share capital from Rs. 56.54 crore to Rs. 5.65 crore by cutting the face value of each share from Rs. 10 to Rs. 1. This action is part of a Resolution Plan approved by the NCLT Hyderabad bench on October 23, 2024, suggesting the company underwent a corporate insolvency resolution process (IBC). The in-principle approval dated September 4, 2025 is a procedural milestone required before the restructured securities can be listed on the exchanges. Existing shareholders will see their share certificates reflected at the new face value, with no change in their proportionate ownership percentage but a reduction in the per-share value.
This is a procedural step in completing the post-IBC restructuring of the company. For shareholders, the number of shares they hold stays the same, but each share now has a face value of Rs. 1 instead of Rs. 10. The stock may remain thinly traded or suspended until the formal listing process is completed.