Description

Trading suspension notice for CIAN Healthcare Limited due to equity share capital reduction under NCLT-approved resolution plan, effective from January 21, 2026.

Summary

BSE has issued a trading suspension notice for CIAN Healthcare Limited (Scrip Code: 542678) effective from January 21, 2026, in connection with a reduction of equity share capital as per a Resolution Plan approved by the Hon’ble National Company Law Tribunal (NCLT), Mumbai Bench. The capital restructuring involves complete extinguishment of promoter shareholding (67.75 lakh shares representing 27.10%) and consolidation of public shareholding from 1.82 crore shares (72.90%) to 12.5 lakh fresh shares (5% of restructured equity).

Key Points

  • Trading members advised not to deal in equity shares of CIAN Healthcare Limited effective from settlement DR-803/2025-2026
  • Record date for capital reduction: January 21, 2026
  • Promoter shareholding of 67,74,897 equity shares (27.10% of total capital) to be completely written off with zero consideration
  • Estimated liquidation value of promoter shareholding deemed NIL under the resolution plan
  • Public shareholding of 1,82,20,867 equity shares (72.90% of total capital) to be reduced and extinguished
  • Public shareholders to receive 12,50,000 fresh equity shares (5% of restructured equity) in proportion to their existing holdings
  • All shares have face value of INR 10 per share
  • Capital restructuring is part of Corporate Insolvency Resolution Process (CIRP)

Regulatory Changes

The NCLT Mumbai Bench, Court-1 has approved a Resolution Plan that mandates:

  1. Complete extinguishment of erstwhile promoter equity without any consideration
  2. Consolidation of public shareholding through cancellation and fresh issuance in reduced quantum
  3. Trading suspension to facilitate orderly implementation of the capital reduction scheme

Compliance Requirements

  • Trading Members: Must not deal in equity shares of CIAN Healthcare Limited from the specified suspension date
  • Company: Must implement the capital reduction as per the NCLT-approved Resolution Plan
  • Record Date: January 21, 2026 - shareholding as on this date will determine entitlement for fresh share allocation to public shareholders
  • Public Shareholders: Will receive new shares proportionate to existing holdings on record date (reduced from 1.82 crore to 12.5 lakh shares total)

Important Dates

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

Impact Assessment

Promoters: Total elimination of equity stake (67.75 lakh shares worth 27.10% ownership) with no compensation, reflecting complete write-off under insolvency proceedings.

Public Shareholders: Severe dilution through 93.14% reduction in absolute share count (from 1.82 crore to 12.5 lakh shares), though proportionate allocation among public shareholders will be maintained. Post-restructuring, public shareholders will hold only 5% of the reconstituted equity capital.

Market Impact: Trading suspension prevents price discovery during the capital restructuring period. The drastic capital reduction indicates significant financial distress resolved through NCLT-supervised insolvency proceedings. Investors should note this represents a resolution under the Insolvency and Bankruptcy Code framework.

Liquidity: Substantial reduction in free float from 1.82 crore shares to 12.5 lakh shares will significantly impair liquidity post-resumption of trading.

Impact Justification

Complete capital restructuring under NCLT-approved resolution plan with 100% promoter shareholding write-off and 93.14% reduction in public shareholding from 1.82 crore to 12.5 lakh shares