Description

BSE announces listing of 14,14,376 equity shares of Global Infratech and Finance Limited under XT Group effective March 18, 2026, pursuant to an NCLT-approved Resolution Plan under IBC 2016.

Summary

BSE has announced that equity shares of Global Infratech and Finance Limited (Scrip Code: 531463) will be listed and admitted to dealings on the Exchange 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. A total of 14,14,376 fully paid-up equity shares of Rs. 10/- each will be listed, comprising shares allotted post capital reduction and on a preferential basis.

Key Points

  • Effective date of listing: March 18, 2026
  • Total shares 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 the Successful Resolution Applicant
  • Scrip Code: 531463; Scrip ID / Abbreviated Name on BOLT: GBLINFRA
  • ISIN: INE377M01043
  • Group: XT | Market Lot: 1 | Face Value: Rs. 10/- each fully paid up
  • Trading will continue in the Trade-to-Trade segment per Exchange Notice No. 20230210-55
  • The company will be part of the 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
  • Lock-in: 11,50,000 shares (Distinctive Nos. 264377–1414376) are locked in until March 31, 2027
  • Equity shares are currently credited under a temporary ISIN in dematerialized mode per SEBI Circular CIR/MRD/DP/21/2012

Regulatory Changes

  • Listing is pursuant to the Resolution Plan approved by the Hon’ble NCLT, Mumbai Bench, vide order dated October 25, 2024, under the Insolvency and Bankruptcy Code, 2016
  • Pre-CIRP public shareholding has been reduced to 1%: public shareholders receive 1 equity share for every 100 equity shares previously held
  • The company’s equity shares continue to be subject to Trade-to-Trade segment restrictions per Exchange Notice No. 20230210-55 dated February 10, 2023

Compliance Requirements

  • All market participants are informed of the listing and must note the XT Group classification and Trade-to-Trade trading restrictions
  • Participants must observe the lock-in on 11,50,000 shares until March 31, 2027
  • The company’s shares are currently held under a temporary ISIN; activation of the final ISIN per SEBI Circular CIR/MRD/DP/21/2012 should be noted
  • Participants must comply with the pre-open session requirements applicable to this scrip

Important Dates

  • October 25, 2024: NCLT Mumbai Bench approval of Resolution Plan
  • February 25, 2025: Record date for giving effect to the Resolution Plan (per Exchange Notice No. 20250218-49)
  • March 10, 2026: BSE Notice date (Notice No. 20260310-23)
  • 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

The listing of Global Infratech and Finance Limited under the XT Group in the Trade-to-Trade segment reflects the company’s emergence from insolvency proceedings under IBC. Existing public shareholders face significant dilution due to the 99% capital reduction, retaining only 1 share per 100 previously held. The Successful Resolution Applicant holds the majority of newly issued shares with a lock-in until March 2027, limiting near-term liquidity. Market impact is contained given the XT/Trade-to-Trade classification, which restricts speculative trading and requires delivery-based settlement for all transactions.

Impact Justification

Listing under IBC resolution plan with capital reduction affecting existing shareholders; trading in XT/Trade-to-Trade segment limits broad market impact but significant for existing and new shareholders of the company.