Leel Electricals: Capital Restructuring Post KVL Acquisition

Leel Electricals Ltd. announced a major capital restructuring following its acquisition by Krishna Ventures Limited (KVL) as a going concern, approved by NCLT. The restructuring includes the cancellation of all erstwhile promoter shares and a reduction of public shareholding to 1 share for every 43 held, both without payout. To meet minimum public shareholding, 5,43,011 equity shares will be allotted to eligible public shareholders. Additionally, 1,02,60,000 equity shares will be preferentially issued to KVL and its affiliates. These steps are part of the post-acquisition process, with filings underway.