Blue Blends Approves Allotment of 50 Lakh Equity Shares

Blue Blends (India) Limited's Board of Directors has approved the allotment of 50,00,000 fully paid-up fresh equity shares at a price of ₹10 each on a preferential basis. This action is in accordance with an approved Resolution Plan and orders from Adjudicating Authorities, including the National Company Law Tribunal and Appellate Tribunal. The allotment includes 10,000 shares to Amit Mahendrabhai Shah and 49,90,000 shares to Neolite Polymer Industries Private Limited. Concurrently, existing promoter and public shareholder equity shares are to be cancelled and extinguished without consideration, with public shareholders receiving a smaller allotment of new shares based on their existing holdings.