Description

Equity shares of Global Infratech and Finance Limited will be listed on BSE under XT Group effective March 18, 2026, following NCLT-approved Resolution Plan under IBC 2016.

Summary

Global Infratech and Finance Limited (Scrip Code: 531463, Scrip ID: GBLINFRA) will be listed and admitted to dealings on BSE under the XT Group effective Wednesday, March 18, 2026. This listing follows the NCLT-approved Resolution Plan under the Insolvency and Bankruptcy Code (IBC), 2016. Trading will occur in the Trade-to-Trade segment and will include a special pre-open session.

Key Points

  • Effective date of listing: March 18, 2026
  • Group: XT (Trade-to-Trade segment)
  • Total shares being listed: 14,14,376 fully paid-up equity shares of Rs. 10/- each
    • 2,64,376 shares allotted post capital reduction to existing public shareholders
    • 11,50,000 shares allotted on preferential basis to Successful Resolution Applicant
  • Distinctive numbers: 1 to 1414376
  • ISIN: INE377M01043
  • Lock-in: 11,50,000 shares (distinctive nos. 264377–1414376) locked in until March 31, 2027
  • Company will participate in special pre-open session for IPO and Other category scrips per SEBI Circular Nos. CIR/MRD/DP/01/2012 and CIR/MRD/DP/02/2012

Regulatory Changes

  • Resolution Plan approved by Hon’ble NCLT Mumbai Bench vide order dated October 25, 2024
  • Capital reduction applied: existing public shareholders’ pre-CIRP holdings reduced to 1% (1 equity share for every 100 held)
  • Shares currently held under temporary ISIN per SEBI Circular CIR/MRD/DP/21/2012 (August 2, 2012) pending ISIN activation
  • Continuation of Exchange Notice No. 20230210-55 dated February 10, 2023 governing Trade-to-Trade segment

Compliance Requirements

  • All market participants must note the listing effective March 18, 2026 under XT Group
  • Trading will remain restricted to Trade-to-Trade segment
  • Participants must observe lock-in restrictions on 11,50,000 preferential shares until March 31, 2027
  • Shares in demat mode are currently under temporary ISIN; activation per SEBI circular norms applies

Important Dates

  • October 25, 2024: NCLT Mumbai Bench order approving Resolution Plan
  • February 25, 2025: Record date for giving effect to the resolution plan (per Exchange Notice No. 20250218-49)
  • March 10, 2026: This circular issued (continuation of Notice No. 20260310-21)
  • March 18, 2026: Effective date of listing on BSE under XT Group
  • March 31, 2027: Lock-in expiry for 11,50,000 preferential shares

Impact Assessment

Existing public shareholders of Global Infratech and Finance Limited have experienced significant dilution due to capital reduction under the IBC resolution plan — holdings reduced to 1% of pre-CIRP levels. The Successful Resolution Applicant holds 11,50,000 preferential shares locked in until March 2027. The stock will trade in the Trade-to-Trade segment under the XT Group, meaning delivery-based settlement is mandatory with no intraday trading. Market impact is limited to existing shareholders and participants in the company’s scrip; broader market implications are minimal.

Impact Justification

Listing of a revived company post-IBC resolution plan; affects existing shareholders due to capital reduction and new preferential allotment, but limited broader market impact.