Satra Properties (India) Limited has informed the exchange regarding Delisting of Equity shares and Reduction of Equity Share Capital in accordance with the Resolution plan approved by ....
Awaiting price reaction for this filing.
Satra Properties (India) Limited will be delisted from BSE and its entire existing share capital will be cancelled with zero payout to shareholders, as per a Resolution Plan approved by the Mumbai NCLT on 26 July 2024 under Section 31 of the Insolvency and Bankruptcy Code (IBC). The company was admitted into insolvency in August 2020 after a Section 7 petition, and the Resolution Plan submitted by M J Shah Enterprise consortium was cleared by the Committee of Creditors in September 2021. An attempt by the new owners to keep the company listed was rejected by NCLT in March 2025, and they have chosen not to appeal. Existing 17.84 crore shares (face value Rs 2, paid-up capital Rs 35.67 crore) will be wiped out, and 50 lakh fresh shares of Rs 2 each (Rs 1 crore total) will be issued to the new promoters. The liquidation value for equity shareholders has been assessed as NIL, so no exit price will be offered.
Existing shareholders will lose their entire investment as shares will be cancelled with no compensation, and the stock will disappear from BSE. The company will continue to operate as an unlisted entity under new ownership, with no recovery possible for retail investors who held the stock.