JK Paper Limited has completed the allotment of 1,19,16,422 equity shares to its promoter group constituents under a scheme of arrangement approved by the National Company Law Tribunal. The allotment, executed on 20th March, 2026, follows the NCLT Ahmedabad Bench order dated 3rd February, 2026, which became effective on 15th March, 2026.

Share Allotment Details

The equity shares of ₹10 each were distributed between two promoter group entities. Accurate Finman Services Limited received 18,66,431 shares, while J.K. Credit & Finance Limited was allotted 1,00,49,991 shares. This allotment was made pursuant to the court-sanctioned scheme of arrangement.

Impact on Promoter Holdings

Following the share allotment, the total shareholding of the promoter and promoter group constituents increased significantly. The combined promoter group holding rose to 9,59,96,633 equity shares, representing an increase of 3.31% in their overall stake.

Pre and Post-Allotment Holdings Comparison

Company Capital Structure Changes

The allotment resulted in an expansion of JK Paper's equity share capital. The company's total equity share capital increased from ₹1,69,40,23,440 to ₹1,81,31,87,710. The total number of outstanding equity shares rose from 16,94,02,344 to 18,13,18,771 equity shares of ₹10 each, all fully paid up.

Regulatory Compliance

Bengal & Assam Company Limited, acting as the promoter, filed the requisite disclosure under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations 2011. The disclosure was submitted to both BSE Limited and National Stock Exchange of India Limited, where JK Paper's shares are listed. The company secretary Dillip Kumar Swain signed the disclosure on behalf of Bengal & Assam Company Limited and other promoter group constituents.

JK Paper Limited has successfully completed its comprehensive corporate restructuring scheme and announced the allotment of 1,19,16,427 equity shares to eligible shareholders of Enviro Tech Ventures Limited (ETVL) on March 20, 2026.

Scheme Implementation and Share Allotment

The composite scheme of arrangement became effective on March 15, 2026, following the filing of the National Company Law Tribunal's sanctioning order with the Registrar of Companies. The Committee of Directors, duly authorized by the Board of Directors, approved the equity share allotment at its meeting held on March 20, 2026.

The allotted equity shares rank pari passu in all respects with the existing equity shares of the company. Applications for listing and trading approval will be submitted to BSE Limited and National Stock Exchange of India Limited in due course.

Capital Structure Enhancement

The share allotment has resulted in a significant increase in JK Paper's paid-up equity share capital:

Subsidiary Amalgamations and Demerger Operations

The restructuring scheme, sanctioned by the National Company Law Tribunal Ahmedabad Bench on February 3, 2026, involved comprehensive corporate reorganization:

The scheme also encompassed demerger operations involving ETVL, with the demerged undertaking transferred to PSV Agro Products Private Limited effective April 1, 2025. The residual business of ETVL, including its investment in The Sirpur Paper Mills Limited, was amalgamated with JK Paper Limited, making SPML a direct wholly-owned subsidiary.

Regulatory Compliance and Legal Framework

The composite scheme operates under Sections 230-232 read with Section 66 of the Companies Act, 2013, and is legally binding on all companies involved and their respective shareholders. The restructuring represents a strategic milestone in JK Paper's corporate evolution, consolidating operations and optimizing subsidiary structure for enhanced operational efficiency.