Description

BSE announces listing of 1,43,86,672 equity shares of Keto Motors Limited under XT Group effective May 19, 2026, following NCLT-approved Resolution Plan under IBC 2016.

Summary

BSE has announced the listing of 1,43,86,672 fully paid-up equity shares of Keto Motors Limited (formerly Taaza International Limited) under the XT Group, effective May 19, 2026. The listing follows an NCLT-approved Resolution Plan under the Insolvency and Bankruptcy Code (IBC) 2016, which involved significant capital restructuring including capital reduction and preferential allotments.

Key Points

  • Effective date for listing on BSE: May 19, 2026 (Tuesday)
  • Total shares listed: 1,43,86,672 fully paid-up equity shares of Rs. 10/- each
  • Scrip Code: 537392, Scrip ID: KETOMOTORS
  • ISIN: INE392H01026
  • Group: XT (Trade-to-Trade segment)
  • Market Lot: 1
  • Face Value: Rs. 10/- per share fully paid up
  • Company will be part of special pre-open session for IPO and Other category scrips per SEBI Circulars CIR/MRD/DP/01/2012 and CIR/MRD/DP/02/2012
  • Registered Office: 9-1-83 & 84, Amarchand Sharma Complex, Sarojini Devi Road, Secunderabad, Hyderabad, Telangana, 500003

Regulatory Changes

  • Trading will take place in the Trade-to-Trade (T2T) segment in accordance with Exchange Notice No. 20230210-55 dated February 10, 2023
  • Listing is under XT Group, applicable to companies emerging from insolvency proceedings
  • The NCLT Resolution Plan (Hyderabad Bench, June 12, 2025) governs the restructuring

Compliance Requirements

  • All Market Participants must note the effective listing date of May 19, 2026
  • Trading is restricted to Trade-to-Trade segment — no intraday squaring off permitted
  • Lock-in applies to 1,41,00,000 shares (Distinctive Nos. 286673–14386672) until May 31, 2027
  • Participants must observe special pre-open session rules as per SEBI circulars dated January 20, 2012

Important Dates

  • May 11, 2026: Notice date (BSE Notice No. 20260511-31)
  • May 19, 2026: Effective date of listing on BSE under XT Group
  • June 12, 2025: NCLT Hyderabad Bench order approving the Resolution Plan
  • May 31, 2027: Lock-in expiry for 1,41,00,000 shares

Impact Assessment

Share Structure after Resolution Plan:

  • 2,86,672 equity shares allotted post capital reduction (Distinctive Nos. 1–286672)
  • 91,00,000 equity shares issued on preferential basis at face value
  • 50,00,000 equity shares issued on preferential basis at a premium of Rs. 40/- each

Existing Shareholder Impact:

  • Erstwhile promoters and promoter group: entire shareholding cancelled with a pay-out of Rs. 3.70/- per equity share
  • Existing public shareholders (non-promoters): 95% of their shareholding cancelled as on Record Date

Market Impact:

  • The stock trades in Trade-to-Trade segment, meaning delivery is mandatory for all transactions — no intraday trading permitted
  • Over 98% of total listed shares (1,41,00,000 out of 1,43,86,672) are under lock-in until May 31, 2027, severely limiting free-float
  • Listing under XT Group signals heightened regulatory scrutiny typical of IBC-resolution companies
  • Investors should exercise caution given the limited liquidity from lock-in restrictions and T2T trading rules

Impact Justification

This circular announces the listing of a company emerging from insolvency proceedings under IBC 2016, involving significant restructuring including capital reduction, preferential allotment, and lock-in restrictions affecting over 98% of shares. Effective date is May 19, 2026 with material implications for existing and new shareholders.