Description

Alka India Limited's equity shares to be listed on BSE under XT Group effective January 29, 2026, following NCLT-approved resolution plan with capital reduction and new promoter allotment.

Summary

BSE announces the listing of Alka India Limited’s equity shares effective January 29, 2026, under XT Group following NCLT-approved resolution plan. The company underwent capital reduction from 50 crore shares to 50 lakh shares (99% reduction), with 100% extinguishment of existing promoter holdings. The scrip will trade in Trade-to-Trade segment with lock-in provisions for 95% of shares until January 2027.

Key Points

  • Listing effective from Thursday, January 29, 2026 under XT Group
  • Trading in Trade-to-Trade segment only
  • Scrip Code: 530889, ISIN: INE061B01038, Symbol: ALKA
  • Market lot: 1 share, Face value: Rs. 1/-
  • Total listed capital: 50,00,000 equity shares
  • Part of special pre-open session for IPO and Other category
  • Resolution plan approved by NCLT Mumbai on February 07, 2025
  • Record date was March 04, 2025
  • Shares credited under temporary ISIN as per SEBI guidelines

Regulatory Changes

The company underwent restructuring under Insolvency and Bankruptcy Code, 2016:

  • Capital Reduction: Paid-up capital reduced from 50,00,00,000 shares to 50,00,000 shares (100:1 consolidation)
  • Promoter Change: 100% extinguishment of existing promoter holdings
  • Public Shareholding: Reduced from 41,86,25,449 shares to 2,50,000 shares (allotted to existing public shareholders)
  • New Allotment: 47,50,000 shares allotted to Successful Resolution Applicants (SRA) and promoter group on preferential basis

Compliance Requirements

  • Market participants must note XT Group classification and Trade-to-Trade restrictions
  • Trading permitted only in Trade-to-Trade segment as per Notice No. 20230210-55 dated February 10, 2023
  • Special pre-open session applicable as per SEBI Circulars CIR/MRD/DP/01/2012 and CIR/MRD/DP/02/2012
  • Shares currently in temporary ISIN to be activated per SEBI circular CIR/MRD/DP/21/2012
  • Lock-in restrictions apply to specific share ranges

Important Dates

  • January 23, 2026: Notice date
  • January 29, 2026: Listing and trading commencement date
  • February 07, 2025: NCLT order approval date
  • March 04, 2025: Record date for resolution plan implementation
  • January 31, 2027: Lock-in expiry for 47,50,000 shares (95% of total)

Lock-in Details

  • 2,36,842 shares (DN 250001-486842): Locked until January 31, 2027
  • 11,84,211 shares (DN 500001-1684211): Locked until January 31, 2027
  • 30,78,947 shares (DN 1750001-4828947): Locked until January 31, 2027
  • Only 2,50,000 shares (5%) available for immediate trading

Impact Assessment

For Existing Shareholders: Significant dilution with 99% capital reduction. Public shareholders holding reduced from over 4 crore shares to 2.5 lakh shares representing only 5% of restructured capital.

For Market: Stock classified under XT Group indicating high risk. Trade-to-Trade mechanism prevents intraday speculation. Limited floating stock (5%) may result in low liquidity initially.

For Company: Fresh start under new promoters post-insolvency with drastically reduced capital base. 95% shareholding by SRA provides clear management control.

Trading Implications: High volatility expected due to low free float, mandatory delivery-based trading, and special pre-open session requirements.

Impact Justification

Major corporate restructuring involving 100% promoter extinguishment, 99% capital reduction, and listing under XT Group following insolvency resolution. Significant impact on existing shareholders.