LEEL Electricals Limited — Board Meeting, 24-12-2024: Outcome of Board Meeting

The Board of Directors of Leel Electricals Limited approved a significant capital restructuring plan, including the cancellation of existing equity share capital held by erstwhile promoters, reducing it to zero without payout. Current public shareholders will see their holdings reduced to one share for every 43 held, also with no payout. The board also approved a preferential allotment of shares to selected allottees as part of this restructuring effort. Post-restructuring, the paid-up share capital will decrease from ₹40.33 crore to ₹10.80 crore, aligning the company with legal requirements following its acquisition by Krishna Ventures Limited.