Description

CLC Industries Limited (formerly Spentex Industries Limited) equity shares to be listed on BSE in T Group effective January 30, 2026, following NCLT-approved resolution plan under IBC.

Summary

BSE announces the listing and admission to trading of equity shares of CLC Industries Limited (formerly Spentex Industries Limited) effective January 30, 2026. The listing follows an NCLT-approved resolution plan under the Insolvency and Bankruptcy Code, 2016, which involved complete extinguishment of promoter holdings, 95% reduction in public shareholding, and allotment of 98.75 lakh shares to the Successful Resolution Applicant. The scrip will trade in T Group under Trade-to-Trade segment with scrip code 521082.

Key Points

  • Company name changed from Spentex Industries Limited to CLC Industries Limited effective January 30, 2026
  • Scrip Code: 521082, Scrip ID: CLCIND, ISIN: INE376C01038
  • Total new equity shares: 1,03,94,680 fully paid-up equity shares of Rs. 10/- each
  • 5,19,748 shares allotted post capital reduction to existing public shareholders
  • 98,74,932 shares allotted on preferential basis to Successful Resolution Applicant
  • 93,55,212 shares under lock-in until January 30, 2027 (Distinctive No. 519749 to 9874960)
  • Trading in T Group, Trade-to-Trade segment
  • Market Lot: 1 share, Face Value: Rs. 10/-
  • Part of special pre-open session for IPO and Other category
  • Shares currently credited under temporary ISIN as per SEBI circular CIR/MRD/DP/21/2012

Regulatory Changes

The listing follows the NCLT-approved Resolution Plan dated May 12, 2023, under the Insolvency and Bankruptcy Code, 2016. The resolution plan mandated:

  • 100% extinguishment of existing promoter holdings
  • 95% reduction in public shareholding (1 share for every 100 shares held)
  • Fresh allotment to Successful Resolution Applicant on preferential basis
  • Compliance with SEBI circulars on special pre-open sessions (CIR/MRD/DP/01/2012, CIR/MRD/DP/02/2012 dated January 20, 2012, and SEBI/HO/MRD-TPD1/CIR/P/2023/55 dated April 11, 2023)
  • Trade-to-Trade segment trading as per BSE Notice No. 20250702-33 dated July 02, 2025

Compliance Requirements

  • Market Participants must update systems with new company name (CLC Industries Limited) and scrip details
  • Trading parameters: T Group, Trade-to-Trade segment, Market Lot of 1 share
  • Special pre-open session procedures to be followed for this scrip
  • Lock-in compliance for 93,55,212 shares until January 30, 2027
  • Dematerialized shares credited under temporary ISIN to be tracked appropriately

Important Dates

  • January 28, 2026: Notice date
  • January 30, 2026: Effective date for listing and name change
  • January 12, 2024: Record date for resolution plan implementation (as per Exchange Notice No. 20240110-44)
  • January 30, 2027: Lock-in expiry date for 93,55,212 shares
  • May 12, 2023: NCLT approval date for Resolution Plan

Impact Assessment

Existing Shareholders: Highly adverse impact with 95% shareholding reduction. Public shareholders retain only 1 share for every 100 shares held as on record date (January 12, 2024).

Market Impact: Fresh listing after IBC resolution introduces new majority ownership structure. The complete extinguishment of promoter holdings and entry of Successful Resolution Applicant (holding 95% post-allotment) represents fundamental change in company control.

Trading Impact: Placement in T Group with Trade-to-Trade segment restricts trading flexibility, indicating higher risk profile. No intraday trading allowed, full delivery-based settlement required.

Liquidity: Lock-in of 93.55 lakh shares (90% of total) until January 2027 will significantly constrain free float and liquidity. Only ~10.39 lakh shares available for trading initially.

Operational: Company emerges from insolvency proceedings with restructured capital base and new management under Successful Resolution Applicant, requiring close monitoring of business revival efforts.

Impact Justification

Major corporate restructuring under IBC with 100% promoter extinguishment, 95% public shareholding reduction, fresh listing, and name change impacting existing shareholders significantly.