LEEL Electricals Limited — Updates, 24-12-2024: Other Restructuring

Leel Electricals Limited's Board has approved a significant restructuring plan. This involves cancelling the entire equity share capital held by former promoters and reducing public shareholders' equity to 1 share for every 43 shares held, effective from the record date of November 22, 2024, without any payout. Following this, a preferential allotment of equity shares will be issued, facilitating a new share structure post-acquisition by Krishna Ventures Limited. This move is aimed at revitalizing the company post-liquidation proceedings and may enhance investor confidence by streamlining ownership. However, public shareholders will see a decreased stake in the company, indicating a potential risk for their interests.