Withdrawal of Intimation of Record Date for the purpose of Reduction and Consolidation of Equity Shares pursuant to the implementation of Resolution Plan.
Awaiting price reaction for this filing.
Alps Industries has withdrawn its earlier announcement of December 19, 2025 as the record date for a 99% reduction in equity share capital and subsequent consolidation under its NCLT-approved Resolution Plan. The original plan was to cut face value from Rs. 10 to Rs. 0.10 and then consolidate 10 shares of Rs. 0.10 into 1 share of Rs. 1, effectively a 10:1 share consolidation. The company cited unforeseen circumstances for the withdrawal and said a fresh record date will be announced later. The NCLT resolution plan context suggests the company is implementing a debt and capital restructuring process.
Shareholders face continued uncertainty as the record date for the capital reduction and consolidation has been pushed back, though the restructuring itself still appears to be on track. The delay may cause short-term confusion among investors, but is part of a court-approved resolution process typically seen in stressed companies.