Leel Electricals: Share Capital Restructuring Post-Acquisition

Leel Electricals Ltd has announced a significant capital restructuring following its acquisition by Krishna Ventures Limited (KVL) under the Insolvency and Bankruptcy Code, 2016. The company's existing equity share capital will be cancelled and extinguished for promoters, while public shareholders will see their holdings reduced to one share for every 43 held as of November 22, 2024. This is part of a process to achieve minimum public shareholding and includes a preferential issue of shares to the acquirer. The company will not be filing the standard share capital reconciliation report for September 30, 2026, as the restructuring is ongoing.