Corporate Action15 Apr 2026, 05:11 pm
Omkar Speciality: All shares extinguished, new shares issued, CFO appointed
AI Summary
Omkar Speciality Chemicals' Monitoring Committee approved key actions on April 15, 2026, as per the NCLT-approved Resolution Plan. A record date of April 29, 2026, was fixed for the extinguishment of all existing equity shares held by promoters and public shareholders. The committee also approved the issuance of 50,00,000 new equity shares at ₹10 each for ₹5 crore to IFFAS Kshitij SPV LLP via private placement. Additionally, the company will borrow up to ₹20 crore as a loan from Kshitij Polyline Limited and treat an earnest money deposit as debt. Mr. Mahendra Kumar Jain was appointed as the new Chief Financial Officer.
Key Highlights
- Record date of April 29, 2026, fixed for extinguishment of all existing equity shares.
- 50,00,000 new equity shares to be issued at ₹10 each to IFFAS Kshitij SPV LLP.
- Company to borrow up to ₹20 crore as a loan from Kshitij Polyline Limited.
- Earnest money deposit to be treated as debt/loan under the resolution plan.
- Mr. Mahendra Kumar Jain appointed as the new Chief Financial Officer.