Intimation under Regulation 29 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
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Viksit Engineering Ltd has informed BSE about its 3rd Monitoring Committee meeting scheduled for May 10, 2025. The meeting will consider issuing 2,37,500 fresh equity shares to the Successful Resolution Applicant under an already-approved Resolution Plan. It will also reduce public shareholders' stake to 5% of the new capital, determine which existing equity holders get 12,500 shares of Rs 10 each, and cancel the entire shareholding of the erstwhile promoters. A record date for this capital restructuring will also be fixed. The presence of a Monitoring Committee indicates the company is executing a plan approved under the insolvency resolution framework.
Existing shareholders face severe dilution — erstwhile promoters will be wiped out completely, and public shareholders will be reduced to just 5% of the restructured capital. Only those meeting specific eligibility criteria under the approved plan will retain any equity, making this a high-risk event for current holders though it signals the company is exiting the resolution process with a new promoter.