The Company has fixed 15 April 2026 as record date to determine the equity shareholders of the Company for the purpose of extinguishment/ cancellation of shares pursuant to the Resolution ....
Awaiting price reaction for this filing.
Omkar Speciality Chemicals, currently under the Corporate Insolvency Resolution Process (CIRP) since December 2022, has called a Monitoring Committee meeting on April 15, 2026. The committee will fix a record date to cancel all existing equity shares — both promoter and public holdings — as required under the approved Resolution Plan. In place of the cancelled shares, the company plans to issue 50 lakh new equity shares of ₹10 each at par, raising ₹5 crore through a private placement. The meeting will also approve a new borrowing arrangement, appointment of a CFO and a Company Secretary, and review of CIRP-related costs and compliances.
For existing shareholders, this is effectively a complete wipeout — all current equity (promoter and public) will be extinguished. The new shares will go to the resolution applicant / lender creditors under the approved plan, meaning retail investors will likely lose their entire investment. Trading in the stock carries extremely high risk and is unlikely to recover value for old shareholders.