Sintex Plastics Technology Limited has informed the Exchange about Copy of Newspaper Publication
Awaiting price reaction for this filing.
Sintex Plastics Technology has published a public announcement regarding the delisting and complete cancellation of its equity shares, following a resolution plan approved by the NCLT Ahmedabad bench (orders dated November 8, 2024, and April 17, 2025) under the Insolvency and Bankruptcy Code, 2016. The acquirer is Durgesh Infrastructure Private Limited along with affiliates Atreyi Vincom, Unicon Suppliers, and Eastern Mercantil. Under the plan, 63,61,51,296 equity shares (the entire paid-up capital of ₹63.61 crore) will stand extinguished and cancelled, with no payment to public shareholders as the liquidation value is NIL. Additionally, 15,196 shares will be delisted from BSE and NSE, where trading is already suspended. The company will become an unlisted public limited company post-delisting. Q4 FY25 consolidated results show a profit after tax of ₹511.58 lakhs versus ₹501.53 lakhs in Q4 FY24.
Very negative for public shareholders — they will receive no money for their shares as they are being extinguished under the IBC plan, and the company will move fully off the exchanges. The stock, already suspended from trading, now faces formal delisting with zero exit value for retail investors.