GR CABLES LTD. - Board Meeting Outcome for Outcome Of Board Meeting For Meeting Held On 22Nd January, 2024 For Restructuring Of Capital Of The Company In Accordance With The NCLT Order Dated 24Th March 2023

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GR CABLES LTD. - Board Meeting Outcome for Outcome Of Board Meeting For Meeting Held On 22Nd January, 2024 For Restructuring Of Capital Of The Company In Accordance With The NCLT Order Dated 24Th March 2023

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22 Jan 2024
Pursuant to regulation 30 and other applicable regulations of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and pursuant to implementation of Resolution Plan, as approved by the Hon'ble NCLT, Hyderabad Bench-I vide its order dated 24th March, 2023, we wish to inform that, the Board of Directors of the Company, at their meeting held today i.e. Monday, the 22nd day of January, 2024, inter alia along with other businesses 1. a. Extinguishment of promoter shareholding b. Reduction of shareholding of public shareholders by 97.50%: 2. Approved and allotted 80,00,000 (Eighty Lakhs) Equity shares of the Company of INR 10/- each amounting to INR 8,00,00,000 (Rupees Eight Crores Only) to the Resolution Applicants, on preferential basis, in consideration of funds infused by them in the company pursuant to the resolution plan approved by Hon'ble NCLT vide Order dated 24th March 2023. The meeting commenced at 6:00 P.M. and concluded at 07:30 P.M.
View all announcements for GR CABLES LTD.	Source: BSE India

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