Description
Trading suspension from November 28, 2025 due to capital reduction under NCLT-approved resolution plan involving extinguishment of promoter shareholding and reduction of public shareholding to 5%.
Summary
BSE has announced that RCI Industries & Technologies Limited (Scrip Code: 537254) will undergo a reduction of equity share capital as per a Resolution Plan approved by the Hon’ble National Company Law Tribunal (NCLT), New Delhi Bench. The record date is set for November 28, 2025, and trading in the company’s equity shares will be suspended from the same date. The plan involves complete extinguishment of promoter shareholding and reduction of public shareholding to only 5% of the fully diluted capital structure.
Key Points
- Record date for capital reduction: November 28, 2025
- Trading suspension effective from November 28, 2025 (Settlement No. DR-766/2025-2026)
- Complete cancellation and extinguishment of all promoter and promoter group shareholding
- Existing public shareholding to be reduced to only 5% of post-implementation fully diluted capital
- Resolution Plan approved by NCLT, New Delhi Bench
- Company equity shares currently under GSM (Graded Surveillance Measure) restriction
- Notice issued by Marian Dsouza, Assistant Vice President – Listing Compliance and Operations
Regulatory Changes
This action is being implemented under a court-approved Resolution Plan by the National Company Law Tribunal (NCLT), New Delhi Bench. The plan authorizes:
Extinguishment of Promoter Shareholding: Complete cancellation and extinguishment of the entire issued, subscribed and paid-up equity share capital held by promoters and promoter group
Reduction of Public Shareholding: Cancellation and extinguishment of existing public shareholding, with only 5% of the fully diluted capital structure to be retained by existing public shareholders post-implementation
Compliance Requirements
- Trading Members: Must note that trading is currently restricted due to GSM and will be completely suspended from November 28, 2025
- Shareholders: Record date is November 28, 2025 for determining shareholders affected by the capital reduction
- No Dealings: No dealings permitted with effect from November 28, 2025
Important Dates
| Date | Event |
|---|---|
| November 25, 2025 | Circular issued |
| November 28, 2025 | Record date for capital reduction |
| November 28, 2025 | Trading suspension begins |
| November 28, 2025 | No dealings commence (Settlement No. DR-766/2025-2026) |
Impact Assessment
Shareholder Impact: Extremely high impact on all existing shareholders:
- Promoter and promoter group shareholders will see complete extinguishment of their holdings (100% loss)
- Public shareholders will face approximately 95% reduction in their holdings, retaining only 5% of the post-implementation capital structure
Trading Impact: Complete trading suspension from November 28, 2025, preventing any exit or entry opportunities for investors
Market Access: The stock is already under GSM restrictions and will move to complete suspension, eliminating all liquidity
Corporate Restructuring: This appears to be part of a debt resolution or insolvency process under NCLT supervision, indicating severe financial distress at the company
Impact Justification
Complete extinguishment of promoter shareholding and 95% reduction in public shareholding under NCLT-approved resolution plan with immediate trading suspension impacts all existing shareholders significantly.