XL Energy Limited has informed the Exchange that Record date for the purpose of PF & RC is 26-Jun-2025.
Awaiting price reaction for this filing.
XL Energy, currently under the corporate insolvency resolution process, has fixed Thursday, 26 June 2025 as the record date to implement its NCLT-approved Resolution Plan. Under the plan, all preference shares and all promoter/promoter group equity shares will be cancelled with zero payout. The successful resolution applicant will be allotted 15,21,000 fresh equity shares of Rs. 10 each at par. Existing public shareholders, who held 1,77,10,818 shares (77.77% of the company), will receive only 80,100 equity shares — a drastic reduction in their holding. The company was previously delisted from BSE and NSE for non-payment of fees, and the plan aims to revive operations and seek re-listing, with public shareholding required to be at least 5% initially, rising to 25% over three years.
This is extremely negative for existing shareholders. Public investors face a near-total wipeout — holding about 1.77 crore shares before, they will own just 80,100 shares after the restructuring. Promoters are completely diluted. Expect high volatility, possible suspension, and a sharp re-rating once the new equity structure takes effect and re-listing is pursued.