Revised Outcome of meeting of board of directors held dated July 24, 2025 pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ....
Awaiting price reaction for this filing.
Tiaan Consumer's board approved a dramatic restructuring on July 24, 2025. The company will increase its authorised share capital from Rs 13.2 crore to Rs 10,000 crore (a ~750x jump). It will issue up to 149 crore equity shares at Rs 10 each to five non-promoter entities (Alstone Textiles, Blue Bell Finance, Shanta Agencies, Shri Niwas Leasing, and Twinkle Mercantiles) worth about Rs 1,490 crore, by converting existing unsecured loans into equity. After the issue, these investors will collectively hold over 99% of the company, massively diluting existing shareholders. Managing Director Bharat Bhushan and Additional Director Parmanand Chaubey both resigned on the same day citing personal reasons. Two new directors — Iroda Alloyorovna Ochilova and Munesh Kumar — were appointed for 5-year terms. The 33rd AGM is set for August 20, 2025.
This is effectively a change of control to a consortium of non-promoter lenders converting debt into a near-total equity stake. Existing public shareholders face extreme dilution, and the simultaneous exit of the Managing Director signals a leadership overhaul tied to the restructuring.