Description

Trading suspension announced for CIAN HEALTHCARE LIMITED due to capital reduction under NCLT-approved resolution plan, with Record Date set for January 21, 2026.

Summary

BSE has directed trading members not to deal in equity shares of CIAN HEALTHCARE LIMITED (Scrip Code: 542678) effective January 21, 2026, due to capital reduction under a Resolution Plan approved by the Hon’ble National Company Law Tribunal, Mumbai Bench. The restructuring involves complete extinguishment of promoter shares (27.10% stake) and massive reduction of public shareholding from 1.82 crore shares to 12.5 lakh shares.

Key Points

  • Trading suspension effective from January 21, 2026 (Settlement No. DR-803/2025-2026)
  • Record Date: January 21, 2026
  • Promoter shareholding of 67,74,897 equity shares (27.10% stake) to be completely written off with zero consideration
  • Public shareholding of 1,82,20,867 equity shares (72.90% stake) to be reduced and exchanged for 12,50,000 fresh equity shares
  • Post-restructuring, public shareholders will hold only 5% of total equity
  • Face value: INR 10 per share maintained
  • New shares to be issued proportionately based on shareholding as on Record Date
  • Liquidation value of promoter shareholding deemed NIL

Regulatory Changes

This corporate action is executed under the Corporate Insolvency Resolution Process (CIRP) framework as per the Insolvency and Bankruptcy Code. The capital restructuring has been approved by the National Company Law Tribunal, Mumbai Bench, Court-1, making it legally binding on all shareholders.

Compliance Requirements

  • Trading members must not execute any trades in CIAN HEALTHCARE LIMITED equity shares from January 21, 2026
  • Public shareholders will automatically receive new shares in proportion to their holdings as on the Record Date
  • No action required from shareholders; the exchange mechanism will be handled administratively
  • Trading members must inform their clients holding CIAN shares about the capital reduction and its implications

Important Dates

  • Notice Date: January 16, 2026
  • Record Date: January 21, 2026
  • Suspension Effective Date: January 21, 2026
  • Settlement Number: DR-803/2025-2026

Impact Assessment

High Severity Impact: This resolution plan represents an extreme capital restructuring event with catastrophic implications for existing shareholders:

  • Promoters: Complete elimination of 27.10% stake with zero recovery
  • Public Shareholders: Approximately 93.14% reduction in share count (from 1.82 crore to 12.5 lakh shares), resulting in massive dilution
  • Market Impact: Trading suspension will create illiquidity and prevent exit for shareholders
  • Valuation: The capital reduction suggests the company underwent financial distress requiring NCLT intervention
  • Future Ownership: Post-CIRP, public shareholders will be reduced to a 5% minority stake, with 95% likely allocated to resolution applicant/creditors

Investors holding CIAN HEALTHCARE LIMITED shares face severe wealth erosion, as their proportionate ownership will be drastically reduced despite receiving new shares in exchange.

Impact Justification

Complete write-off of promoter shareholding and 93% reduction in public shareholding under NCLT-approved resolution plan represents material corporate action with severe dilution impact.