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.
Rushabh Precision Bearings has fixed Monday, 14th April 2025 as the record date to implement its NCLT-approved Resolution Plan under the Insolvency and Bankruptcy Code. As part of the restructuring, all 56,48,300 equity shares held by the erstwhile promoters will be cancelled, and the 33,51,800 shares held by public shareholders will be replaced with only 4,50,000 shares (5% of post-restructuring capital) allotted on a proportionate basis. New promoter Real Mazon India Limited will be allotted 85,50,000 shares (95% stake) for infusing Rs. 8.55 crore. The total equity capital remains unchanged at 90 lakh shares of Rs. 10 each, but the shareholding structure is completely overhauled, shifting from 62.75%/37.25% promoter-public to 95%/5%.
Highly negative for existing public shareholders, who face a sharp proportional reduction in their holdings and likely significant value erosion. The old promoters are entirely wiped out. The new promoter, Real Mazon India Limited, gains near-total control by infusing Rs. 8.55 crore, signalling a complete change in ownership and management of the company.