Description

Trading suspension and capital reduction for CIAN Healthcare Limited as per NCLT-approved resolution plan, with complete write-off of promoter shares and reduction of public shareholding effective January 21, 2026.

Summary

BSE has suspended trading 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 National Company Law Tribunal (NCLT), Mumbai Bench. The plan involves complete cancellation of promoter shareholding (67,74,897 shares representing 27.10%) and reduction of public shareholding from 1,82,20,867 shares to 12,50,000 fresh shares, representing a 93.14% reduction in public shareholding.

Key Points

  • Trading members advised not to deal in CIAN Healthcare Limited equity shares from January 21, 2026 (Settlement DR-803/2025-2026)
  • Complete write-off of promoter shareholding: 67,74,897 equity shares (27.10% stake) cancelled without consideration
  • Public shareholding reduced from 1,82,20,867 shares (72.90%) to 12,50,000 fresh shares (5% of post-CIRP equity)
  • Existing public shares to be cancelled and replaced with fresh shares in proportion to shareholding as on record date
  • Estimated liquidation value of promoter shareholding deemed NIL
  • Face value of shares: Rs 10 per share (both old and new)
  • Total existing paid-up capital before restructuring: 2,49,95,764 shares

Regulatory Changes

This action is taken pursuant to the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code. The NCLT Mumbai Bench, Court-1 has approved the resolution plan authorizing the capital restructuring. The suspension is imposed to prevent trading during the implementation of the share capital reduction.

Compliance Requirements

  • Trading members must not execute any trades in CIAN Healthcare Limited equity shares from January 21, 2026
  • Members must take note of the capital restructuring and inform clients holding shares in this company
  • Public shareholders will receive fresh shares proportionate to their holdings as on the record date
  • No action required from promoters as their shareholding will be completely extinguished

Important Dates

  • Circular Date: January 16, 2026
  • Record Date: January 21, 2026
  • Trading Suspension Date: January 21, 2026 (Settlement No. DR-803/2025-2026)

Impact Assessment

Market Impact: High - Complete suspension of trading in the scrip prevents any liquidity for existing shareholders. The 93.14% reduction in public shareholding represents severe dilution for public investors, though they retain 5% of post-CIRP equity through fresh share issuance.

Investor Impact: Severe - Promoters lose entire shareholding. Public shareholders face massive reduction from 1,82,20,867 shares to 12,50,000 shares collectively. Individual shareholders will receive significantly fewer shares based on proportionate allocation.

Operational Impact: The company undergoes fundamental capital restructuring as part of insolvency resolution, suggesting previous financial distress. The resolution plan enables the company to continue operations with a clean balance sheet after writing off promoter equity and restructuring public shareholding.

Legal Framework: Action taken under NCLT supervision as part of formal insolvency resolution proceedings under IBC, providing legal certainty to the restructuring process.

Impact Justification

Complete write-off of promoter shareholding and 93.14% reduction in public shares under NCLT-approved insolvency resolution plan with immediate trading suspension