Blue Blends Cancels Promoter Shares, Reduces Public Holding

Blue Blends (India) Limited's Board of Directors has approved the cancellation and extinguishment of all existing equity shares held by the Promoter and Promoter Group (1,15,09,470 shares). Additionally, existing public shareholders' shares (1,01,41,743 shares) will be cancelled and replaced with a new allotment of 2,70,446 shares at a ratio of 4:150. The company also approved the preferential allotment of 50,00,000 fresh equity shares at face value to Amit Mahendrabhai Shah and Neolite Polymer Industries Private Limited. These actions are pursuant to an approved Resolution Plan under the Insolvency and Bankruptcy Code, 2016, and various regulatory orders.