THE COMPANY HAS RECEIVED LISTING APPROVAL FROM BSE LIMITED FOR LISTING OF 50,00,000 EQUITY SHARES OF RS. 1/- EACH. COPY OF LISTING APPROVAL IS ATTACHED HEREWITH.
Awaiting price reaction for this filing.
Alka India Limited (BSE: 530889) has received listing approval from BSE for 50 lakh equity shares of Rs. 1 each. This follows an NCLT Mumbai Bench order dated 7th February 2025 approving the company's Resolution Plan under the Insolvency and Bankruptcy Code (IBC). Out of the 50 lakh shares, 2.5 lakh were allotted to existing public shareholders through a reduction of share capital, while 47.5 lakh were allotted to the Promoter and Promoter Group on a preferential basis as the successful resolution applicant. The company is now working with NSDL and CDSL to credit the shares and will shortly apply for trading approval to enable share trading on BSE.
Existing public shareholders will see a heavily diluted holding as the promoter group's stake expands substantially via the preferential allotment. Once trading approval comes through, the stock will resume trading on BSE, providing liquidity to shareholders after the IBC resolution process.