SR Industries Limited Acquires Majority Stake in Bazel International Limited Through Capital Restructuring

SR Industries Limited has acquired a majority stake in Bazel International Limited, a Registered Non-Banking Financial Company, through a capital restructuring process. Pursuant to the order of the National Company Law Tribunal (NCLT), Chandigarh Bench, 38,39,265 equity shares (19.51%) held by the previous promoters will be cancelled and extinguished. Public shareholders holding 1,58,34,235 equity shares (80.49%) will be allotted 5% equity shares on a proportionate basis. 95% of the company's equity shares will be allotted to new promoters, who will infuse Rs.11,70,00,000 into the company, resulting in a total equity share capital of Rs.19,67,35,000, divided into 1,96,73,500 fully paid-up equity shares of Rs. 10 each. This acquisition makes SR Industries Limited a subsidiary company of the BSE listed Bazel International Limited.