McNally Bharat Engineering Company Limited received final trading permission for 3,33,33,334 equity shares issued pursuant to its National Company Law Tribunal-approved Resolution Plan. The shares will begin trading on the BSE and NSE from September 1, 2026.

The issuance follows the extinguishment of the erstwhile promoters' shareholding and a capital reduction that leaves existing public shareholders with a 5% stake in the restructured entity. The new capital structure comprises shares allotted to the Successful Resolution Applicant (SRA) and public shareholders.

Share Allocation Details

The total issued, subscribed, and paid-up share capital has increased to ₹33,33,33,340, divided into 3,33,33,334 equity shares of face value ₹10 each. This replaces the previous capital of ₹17,21,51,750 divided into 1,72,15,175 shares.

Lock-in Periods

Trading will occur in the T Group segment. Lock-in periods vary by share category:

• Nil lock-in: Applies to 10,000 shares (distinctive numbers 1–10,000) and 16,28,539 shares (distinctive numbers 38,129–16,66,667).
• Until March 30, 2027: Applies to 28,128 shares (distinctive numbers 10,001–38,128).
• Until August 29, 2027: Applies to 16,66,667 public preferential shares and 3,00,00,000 SRA preferential shares.

Regulatory Compliance

The company filed this intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Resolution Plan was approved by the Kolkata bench of the NCLT via orders dated December 19, 2023, and December 3, 2024.

What the Numbers Show

The restructuring results in a significant dilution of pre-existing public equity. While the absolute number of shares held by public shareholders remains numerically similar due to the fresh preferential allotment of 16,66,667 shares, their proportional ownership is capped at 5%. The SRA holds the remaining 95% stake through its preferential allotment of 3 crore shares, establishing complete control over the corporate debtor's equity structure.

McNally Bharat Engineering Company Limited appointed Pradip Kumar Bishnoi as Non-executive Chairman of the company and its Board of Directors. The appointment took effect on August 24, 2026.

The Board approved the change via a resolution passed by circulation on the same date. Mr. Bishnoi, currently an Independent Director, continues to hold that position. His appointment as Chairman does not affect his status or tenure as an Independent Director.

Appointment Details

Mr. Bishnoi will serve as Non-executive Chairman until January 5, 2030. This date marks the end of his residual tenure as an Independent Director. The Board may determine an earlier end date if required.

Profile and Experience

Mr. Bishnoi holds a Bachelor of Engineering in Petroleum Engineering and a Master’s in Business Management from IIM Ahmedabad. He has completed management programmes at Oxford University in the UK and the World Bank in Florida, USA.

He brings over 45 years of experience in steel, natural gas, industrial packaging, and lubricants. His career includes serving as CMD of Rashtriya Ispat Nigam Limited and MD of Balmer Lawrie & Co. Limited. He is also a former member of the Petroleum & Natural Gas Regulatory Board.

Mr. Bishnoi received the Prime Minister’s Gold Medal for development work in 2008. He currently serves as an Independent Director at Rane (Madras) Limited, Rane Engine Valve Limited, and Avadh Sugar & Energy Limited. He is not related to any other Director or Key Managerial Personnel of McNally Bharat.