Description

Galada Power & Telecommunication Limited will be listed on BSE in XT Group effective December 2, 2025, following NCLT-approved resolution plan involving capital reduction and allotment to resolution applicant.

Summary

Galada Power & Telecommunication Limited will be listed and admitted to trading on BSE effective December 2, 2025, in the XT Group of securities. The listing follows an NCLT-approved Resolution Plan under the Insolvency and Bankruptcy Code, 2016. The company will trade in Trade-to-Trade segment and be part of special pre-open session for IPO and Other category scrips. The resolution plan involved complete extinguishment of existing promoter holdings, capital reduction for public shareholders, and allotment of 84.20 lakh shares to the Successful Resolution Applicant with lock-in until December 30, 2026.

Key Points

  • Listing effective from December 2, 2025 in XT Group
  • Total securities: 88,63,158 fully paid-up equity shares of Rs. 10/- each
  • Scrip Code: 504697, ISIN: INE255C01026
  • Trading in Trade-to-Trade segment as per BSE Circular 20250702-33
  • Part of special pre-open session for IPO and Other category
  • Market lot: 1 share
  • NCLT orders dated May 5, 2023 and September 10, 2024 approved the Resolution Plan
  • 100% extinguishment of existing promoter holdings
  • Public shareholding reduced from 7,48,98,800 to 4,43,158 equity shares
  • 84,20,000 shares allotted to Successful Resolution Applicant on preferential basis
  • Record date was September 1, 2023
  • Shares currently credited under temporary ISIN as per SEBI circular CIR/MRD/DP/21/2012

Regulatory Changes

The listing follows the regulatory framework under:

  • Insolvency and Bankruptcy Code, 2016
  • BSE Circular no 20250702-33 dated July 2, 2025 for Trade-to-Trade segment
  • SEBI circulars CIR/MRD/DP/01/2012, CIR/MRD/DP/02/2012 dated January 20, 2012 for pre-open session
  • SEBI/HO/MRD-TPD1/CIR/P/2023/55 dated April 11, 2023
  • SEBI circular CIR/MRD/DP/21/2012 dated August 2, 2012 for temporary ISIN activation

Compliance Requirements

  • Trading members must note the security will be available in XT group and Trade-to-Trade segment only
  • Members must comply with special pre-open session requirements
  • Lock-in restrictions apply to 84,20,000 shares (distinctive numbers 443159-8863158) until December 30, 2026
  • Trading will be conducted under temporary ISIN until permanent ISIN activation

Important Dates

  • November 28, 2025: Notice date
  • December 2, 2025: Listing and trading commencement date
  • September 1, 2023: Record date for resolution plan implementation
  • May 5, 2023 & September 10, 2024: NCLT order dates approving Resolution Plan
  • December 30, 2026: Lock-in expiry date for 84.20 lakh shares

Impact Assessment

This listing represents a corporate restructuring under IBC with significant ownership changes. The complete extinguishment of promoter holdings and substantial capital reduction (from 7.48 crore to 4.43 lakh public shares) indicates major corporate action. The preferential allotment of 84.20 lakh shares to the resolution applicant makes them the majority shareholder with 95% holding (locked-in until December 2026). Trading in XT group and Trade-to-Trade segment suggests higher risk profile requiring mandatory delivery-based trading. Investors should note the company’s IBC background and significant shareholding concentration with the resolution applicant.

Impact Justification

New listing following IBC resolution plan with significant shareholding changes including 100% promoter extinguishment and allotment to resolution applicant with lock-in period