Eastern Silk Industries Limited — QIP/Rights/Pref., 03-04-2025: Allotment of Securities

Eastern Silk Industries Limited has announced a board meeting where key decisions were made to implement a Resolution Plan approved by the National Company Law Tribunal. The existing equity share capital of ₹15.79 crore will be reduced and cancelled, resulting in a new paid-up capital of ₹1 crore, consisting of 50 lakh shares. These shares will be allotted to Baumann Dekor Private Limited and other entities as part of the resolution process. This restructuring is set to shift the company's promoter group entirely to the new investors, effectively eliminating existing shareholders. Investors may view this as a significant operational shift, indicating a positive outlook as the company stabilizes under new management, but should remain cautious about the drastic changes to the ownership structure.