Blue Blends: Neolite Polymer Acquires 94.68% Stake via Resolution Plan

Blue Blends (India) Ltd has disclosed a substantial acquisition of shares by Neolite Polymer Industries Private Limited, which now holds 94.68% of the company's voting capital. This acquisition, involving 49,90,000 equity shares, was executed at a price of ₹10 per share, totaling 50,00,000 equity shares. The transaction is a result of an approved resolution plan and orders from various adjudicating authorities, including the National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT). Amit Mahendrabhai Shah also acquired a smaller stake of 10,000 shares (0.19%). The total equity share capital of Blue Blends (India) Ltd is ₹5,27,04,460, divided into 52,70,446 equity shares of ₹10 each.