Mcnally Bharat Engineering Company Limited — Important, 22-02-2025: General Updates

The Monitoring Committee of McNally Bharat Engineering Company Limited has convened to approve the allotment of equity shares as part of the Resolution Plan sanctioned by the NCLT, Kolkata Bench. A total of 3,00,00,000 equity shares will be issued to Mandal Vyapaar Private Limited, a promoter category entity nominated by BTL EPC Limited, at a face value of Rs. 10 each, amounting to Rs. 30 Cr. Additionally, 16,66,667 equity shares will be allotted to financial creditors in the non-promoter category for a total of Rs. 1.67 Cr. This equity issuance strengthens the company’s capital structure and enhances liquidity, presenting a positive outlook for future operations and strategic initiatives.