The Board of directors of the Company in its meeting held on Thursday, 03rd April, 2025, has approved Monday, 14th April, 2025 as a record date for the purpose of the Capital Restructuring ....
Awaiting price reaction for this filing.
The board of Rushabh Precision Bearings has set Monday, April 14, 2025 as the record date for a capital restructuring under the Resolution Plan approved by NCLT Mumbai on October 20, 2023. As part of this restructuring, all 56,48,300 equity shares held by the existing promoters will be fully cancelled. Public shareholders will receive only 4,50,000 new shares (5% of the post-restructuring capital) in exchange for their existing 33,51,800 shares, on a proportionate basis. New promoter Real Mazon India Limited will be allotted 85,50,000 fresh shares (95%) by infusing Rs. 8.55 crore into the company. Post-restructuring, total equity capital will be Rs. 9 crore divided into 90 lakh shares of Rs. 10 each.
Existing public shareholders face a severe dilution, retaining only about 13% of their original share count post-restructuring. Control of the company effectively shifts to Real Mazon India Limited, which will hold 95% after infusing fresh funds. The stock may see significant repricing as the old share structure is replaced and the new promoter takes control.