SAB Events & Governance Now Media Limited has completed the implementation phase of its National Company Law Tribunal (NCLT)-approved Resolution Plan, with the Board of Directors fixing Wednesday, August 5, 2026, as the record date for critical share capital adjustments. The board meeting held on July 25, 2026, approved the cancellation and extinguishment of all existing equity shares held by promoters, alongside a proportional reduction of public shareholder holdings. This action formalizes the restructuring mandated by the NCLT Mumbai Bench-I order dated July 10, 2026, passed under Sections 54K(12), 54L read with Section 31 of the Insolvency and Bankruptcy Code, 2016.

The most significant operational change involves the reduction of equity shares held by public shareholders in a strict ratio of 100:5. Under this scheme, every 100 equity shares currently held by a public investor will be consolidated into five equity shares. Simultaneously, the entire stake held by the company’s promoters will be cancelled and extinguished, effectively removing their equity interest from the capital structure. These corporate actions are designed to align the company’s share capital with the new ownership structure envisioned in the resolution plan.

Chairman & Managing Director Kailasnath Markand Adhikari signed the disclosure on July 25, 2026, confirming that the board considered these items pursuant to Regulations 30 and 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company had previously intimated the stock exchanges on July 22, 2026, regarding the scheduled board meeting and the intent to implement the tribunal’s order, which was received as a certified copy on July 21, 2026.

The implementation of these changes is subject to the completion of necessary formalities with depositories, the Registrar and Share Transfer Agent, and relevant regulatory authorities. Investors holding shares as of the close of business on August 5, 2026, will be affected by these adjustments. The consolidation of public shares aims to improve liquidity characteristics and reflect the post-resolution capital base accurately.

What This Means for Shareholders

The 100:5 reduction ratio represents a significant consolidation event for retail and institutional investors. While the proportional ownership percentage remains unchanged relative to other public shareholders, the absolute number of shares held will decrease substantially. For instance, an investor holding 1,000 shares will see their holding adjusted to 50 shares. The complete extinguishment of promoter shares indicates a full exit or restructuring of the original promoter group’s equity position, transferring control or leaving the company with a purely public or new-investor-owned structure as per the resolution plan. No cash consideration is mentioned for this specific capital reduction, implying it is a structural adjustment rather than a buyback.

sab events & governance Now Media Limited has announced that its board meeting is scheduled to be held on Friday, May 29, 2026. The meeting will be convened to consider and approve the audited financial results of the company for the quarter and year ended March 31, 2026.

The intimation was made pursuant to the provisions of Regulation 29 and Regulation 33 of the Securities and Exchange Board of India (Listing Obligations & Disclosure Requirements), Regulations, 2015. The board will review the financial performance for the specified period during this session.

Trading Window Closure

In accordance with the SEBI (Prohibition of Insider Trading) Regulations, 2015, the company has notified that the trading window for dealing in its securities is closed. This closure commenced on April 01, 2026, and applies to all insiders, designated persons, and their immediate relatives as defined in the company's Code of Conduct.

The trading window will remain closed until 48 hours after the declaration of the audited financial results for the quarter and year ended March 31, 2026. This measure is intended to ensure compliance with regulatory standards regarding insider trading.

Key Meeting Details

The following table summarizes the key details regarding the upcoming board meeting and the trading window closure: