Description
BSE approves listing of 79.5 lakh equity shares of Cura Technologies Limited from merger and resolution plan, effective August 28, 2025.
Summary
BSE has approved the listing of 79,50,000 new equity shares of Cura Technologies Limited (Scrip Code: 532332) effective from August 28, 2025. The shares comprise 72 lakh shares from a merger scheme and 7.5 lakh shares issued to Strategic Resolution Applicant under an NCLT-approved resolution plan.
Key Points
- 72,00,000 equity shares allotted from merger with Catalog IT Solutions Private Limited
- 7,50,000 equity shares issued at par to Successful Resolution Applicant and Strategic Investors
- All shares rank pari-passu with existing equity shares
- Issue price of Rs. 10/- per share for all new securities
- Trading permitted from Thursday, August 28, 2025
Regulatory Changes
- New ISIN: INE117B01020 for the expanded share capital
- Updated share capital structure post-merger and resolution plan implementation
- NCLT Hyderabad Bench approval obtained for resolution plan under IBC
Compliance Requirements
- Trading members must update their systems for the new securities
- Lock-in compliance: 7.5 lakh shares locked until August 31, 2026
- Merger shares have no lock-in restrictions
Important Dates
- February 13, 2025: Allotment date for merger shares
- June 21, 2025: Allotment date for resolution plan shares
- August 28, 2025: Trading commencement date
- August 31, 2026: Lock-in expiry for resolution plan shares
Impact Assessment
- Significant equity dilution of approximately 79.5 lakh shares
- Capital infusion through resolution plan may strengthen company finances
- Lock-in on 7.5 lakh shares may limit immediate trading volume
- Merger completion indicates corporate restructuring activity
Impact Justification
Significant equity dilution through merger and IBC resolution plan affecting existing shareholders