Revised Outcome
Awaiting price reaction for this filing.
Shivom Investment & Consultancy Ltd has emerged from the Corporate Insolvency Resolution Process (CIRP) after the NCLT Mumbai Bench approved a Resolution Plan on 18 August 2025, submitted by Mr. Prashantbhai Ghanshyambhai Ukani as the Successful Resolution Applicant. As part of the revival, the entire existing public shareholding of 6,99,51,325 equity shares will be cancelled and extinguished (record date fixed for 26 September 2025). In its place, the company will issue 60 lakh fresh equity shares to the resolution applicant and 3 lakh equity shares plus Rs. 17.5 crore of 0.01% Compulsorily Convertible Debentures to unsecured financial creditors. A completely new Board of six directors has been reconstituted, with Mr. Ravi Dhirajlal Vagadiya as Managing Director and Mr. Prashantbhai Ukani as CFO. The company has also approved amendments to its objects to start new business activities and set up various board committees.
This is a major structural reset for the company — existing public shareholders stand to lose their entire holding due to the capital extinguishment, while the new promoter and creditors will own the revived entity. For the stock, this typically means a technical reboot (new ISIN, fresh share base) rather than value destruction, but liquidity and shareholder composition will change drastically.