This is in continuation of our earlier communications in relation to the record date fixed for reduction of share capital of the Company. Pursuant to our intimation dated April 02, 2026, ....
Awaiting price reaction for this filing.
Garodia Chemicals has clarified the record date for its share capital reduction as December 10, 2025, correcting an earlier withdrawn intimation. Under the approved Base Resolution Plan, promoters holding 51.79% stake (37,28,800 shares) will have their shares fully extinguished without any payment. Public shareholders will receive 1 new equity share for every 13 existing shares held, and the face value will be reduced from Rs. 10 to Re. 1. This restructuring appears to be part of an insolvency resolution process where existing promoter equity is cancelled and public shareholders face significant dilution.
Existing public shareholders will suffer heavy dilution (13:1 ratio) and face value reduction, while promoters lose their entire 51.79% stake. This is typical of an insolvency resolution where lender recovery takes priority over existing equity holders.