Intimation of 3rd Meeting of Monitoring Committee
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Viksit Engineering has called its 3rd Monitoring Committee meeting on May 10, 2025 to execute a major capital restructuring under an approved Resolution Plan. The company will issue 2,37,500 new equity shares to the Successful Resolution Applicant (the new effective owner emerging from insolvency resolution). Public shareholders' stake will be slashed and capped at just 5% of the new paid-up capital, with their eligibility for only 12,500 shares of Rs. 10 each being determined. The entire shareholding of the erstwhile promoters will be cancelled and extinguished, effectively wiping them out. A record date will be fixed for this capital restructuring exercise.
Existing public shareholders face massive dilution — their collective holding is being reduced to 5% of the restructured capital, and individual eligibility is being restricted to a tiny allocation. Erstwhile promoters are being completely written off, and control of the company is transferring to the Resolution Applicant. This is a near-total reset of the shareholding structure, typical of a company emerging from insolvency proceedings.