Description

RNIT AI Solutions Limited's equity shares to be listed in XT Group effective October 16, 2025, following NCLT-approved resolution plan involving capital reduction, preferential allotment, and merger.

Summary

BSE announces the listing of equity shares of RNIT AI Solutions Limited (formerly Autopal Industries Limited) effective October 16, 2025, in the XT Group under trade-to-trade segment. The listing follows an NCLT-approved Resolution Plan under the Insolvency and Bankruptcy Code, 2016, which involves capital reduction, preferential allotment of 30 lakh shares, and merger with RNIT Solutions & Services Limited. The paid-up capital has increased from Rs. 3.50 crore to Rs. 74.79 crore, with 7,47,92,083 equity shares post-restructuring.

Key Points

  • Listing effective date: October 16, 2025
  • Scrip Code: 517286, ISIN: INE335Q01026
  • Group: XT (Trade-to-Trade segment)
  • Face value: Rs. 10/- per share
  • Market lot: 1 share
  • 100% extinguishment of existing promoter holdings
  • Public shareholding reduced by 75% (1 share for every 4 held)
  • 4,17,093 shares allotted post capital reduction
  • 30,00,000 shares allotted on preferential basis to Successful Resolution Applicant (locked-in until October 16, 2026)
  • 7,13,74,990 shares allotted pursuant to merger scheme
  • Total post-restructuring shares: 7,47,92,083
  • Special pre-open session applicable for IPO and Other category
  • Record date for resolution plan effect: November 29, 2024

Regulatory Changes

The company underwent restructuring under the Insolvency and Bankruptcy Code, 2016, with NCLT Jaipur Bench approval dated September 23, 2024. The resolution plan mandated:

  • Complete exit of existing promoters
  • Capital reduction affecting public shareholders at 1:4 ratio
  • Merger of RNIT Solutions & Services Limited at 5:1 share exchange ratio
  • Trading restricted to XT Group with trade-to-trade mechanism as per BSE Circular 20230210-55 dated February 10, 2023
  • Special pre-open session as per SEBI circulars CIR/MRD/DP/01/2012 & CIR/MRD/DP/02/2012 dated January 20, 2012

Compliance Requirements

  • Trading members must note the security’s inclusion in XT Group trade-to-trade segment
  • Shares allotted in dematerialized mode credited under temporary ISIN per SEBI circular CIR/MRD/DP/2
  • Lock-in applicable to 30,00,000 preferential shares (distinctive numbers 417094 to 3417093) until October 16, 2026
  • Members must comply with special pre-open session procedures for this category of scrip

Important Dates

  • October 14, 2025: Circular date
  • October 16, 2025: Effective listing date; trading commences
  • November 29, 2024: Record date for resolution plan implementation
  • September 23, 2024: NCLT approval date
  • October 16, 2026: Lock-in release date for preferential allotment shares

Impact Assessment

Market Impact: High - Complete ownership restructuring with 100% promoter exit and significant public shareholding dilution (75% reduction) creates substantial changes in shareholder composition. The 5:1 merger ratio significantly increases share count.

Trading Impact: Trading restricted to XT Group trade-to-trade segment indicates enhanced surveillance due to company’s insolvency background, limiting liquidity and imposing stricter settlement requirements.

Investor Impact: Existing public shareholders experienced 75% reduction in holdings. New investor base includes resolution applicant with significant 30 lakh share stake and former RNIT Solutions & Services shareholders who received majority of post-merger shares (7.14 crore shares).

Operational Impact: Company emerged from insolvency with fresh capital structure, name change reflecting AI business focus, and registered office in Jaipur, Rajasthan.

Impact Justification

Major corporate restructuring involving NCLT-approved resolution plan with 100% promoter exit, 75% public shareholding reduction, merger, and listing in XT group with trade-to-trade restrictions