Omkar Speciality Chemicals Limited (OMKARCHEM) — Corporate Action

1 Corporate Action 🔴 High Importance Neutral 📄 PDF

📢 Key Event
Cancellation of existing shares and issuance of 5 million new shares approved.

🔄 What Changed
5 million shares issued at ₹10 face value; ₹20 crore loan sanctioned.

🔮 What's Next
Record date set for April 29, 2026, for share cancellation.

💡 Investor Takeaway
Shareholders will see their holdings canceled and replaced with new shares, while a new loan provides liquidity.

The Monitoring Committee approved the cancellation of all existing shares on April 29, 2026, and the issuance of 5 million new shares at ₹10 face value for ₹5 crore via private placement. It also sanctioned a ₹20 crore loan from Kshitij Polyline Limited and appointed Mahendra Kumar Jain as CFO and Kuldeep Menaria as Company Secretary.

2 Corporate Action 🔴 High Importance Neutral 📄 PDF

📢 Key Event
Record date set for share cancellation

🔄 What Changed
Record date established for cancellation of promoter and public shares

💡 Investor Takeaway
Shareholders lose their equity stakes as part of the resolution plan.

Omkar Speciality Chemicals announced April 29, 2026 as the record date to cancel shares held by promoters and public shareholders under its approved resolution plan, following NCLT approval in July 2025. This step is part of the company's insolvency resolution process to restructure capital and eliminate existing equity stakes.

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