Majestic Research Approves Equity Capital Reduction and Allotment

Majestic Research Services and Solutions Ltd's Board of Directors has approved a significant corporate restructuring as part of an Approved Resolution Plan under the Insolvency and Bankruptcy Code, 2016. This includes the cancellation and extinguishment of all existing equity shares held by the Promoter and Promoter Group (51,36,992 shares) and existing public shareholders (48,89,008 shares) without consideration. Subsequently, 20,650 fresh equity shares will be allotted to existing public shareholders. Additionally, 3,92,350 fresh equity shares will be allotted on a preferential basis at ₹10 per share to specific individuals: Parth Shaileshbhai Patel (1,56,940 shares), Rashmikaben S Patel (1,17,705 shares), Alpesh Amrutlal Patel (39,235 shares), Nitin Dahyabhai Patel (39,235 shares), and Jalak Shaileshbhai Patel (39,235 shares).