Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board at its meeting held today, Appointed ....
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Viksit Engineering Ltd's board, meeting on 28 November 2025, approved three key actions. First, the company will extinguish and reduce its existing equity share capital pursuant to an approved Resolution Plan under the Companies Act, 2013 — a strong signal that the company has emerged from a corporate insolvency/restructuring process. Second, just 12,500 fresh equity shares (face value Rs. 10) will be allotted to existing non-promoter shareholders in a ratio of 503 shares for every 10,000 held, meaning existing equity is being heavily written down and the promoter/promoter group is being completely excluded from the reconstructed shareholding. Third, Mr. Manish Kumar Chaturvedi (47, formerly with Varun Beverages' SAP finance operations) has been appointed as the new Chief Financial Officer and Key Managerial Personnel, effective immediately.
This is a turnaround event: existing shareholders — especially promoters — are losing their equity value under the approved resolution plan, while non-promoter shareholders receive a token new allocation. The new CFO appointment signals a clean management slate, but investors should expect a structurally altered shareholding pattern and treat this as a distressed-restructuring outcome rather than ordinary business news.