Alps Industries Limited has announced the implementation of a major capital restructuring plan following approval from its Board of Directors in a meeting held on December 10, 2025. The comprehensive restructuring is being executed pursuant to a resolution plan approved by the National Company Law Tribunal (NCLT) Prayagraj.

Capital Reduction and Share Consolidation

The company's Board approved a significant reduction in equity share capital as part of the NCLT-mandated resolution plan implementation. The restructuring involves multiple phases designed to reorganize the company's capital structure.

The existing subscribed and paid-up equity share capital comprises 3,91,14,100 equity shares with a face value of ₹10.00 each, aggregating to ₹39,11,41,000. This will be reduced by 99% to shares with a face value of ₹0.10 each, totaling ₹39,11,410. Subsequently, every 10 equity shares of ₹0.10 each will be consolidated into 1 equity share with a face value of ₹1.00.

Preference Share Issuance

As part of the resolution plan implementation, Alps Industries will issue 1,00,00,000 Category E preference shares to EARCL (Entity Asset Reconstruction Company Limited). These shares carry specific terms and conditions aligned with the approved restructuring framework.

The preference shares are being issued at a premium of ₹603.00 per share, bringing the total issue size to ₹604.00 crores. These shares are redeemable on or before 20 years from the date of issuance and are being allocated to EARCL in consideration of their claim.

Authorized Capital Structure

The company's authorized capital structure will also undergo modification as part of the restructuring process. The changes reflect the comprehensive nature of the capital reorganization being implemented.

Resolution Plan Background

The capital restructuring is being implemented pursuant to a resolution plan dated February 12, 2025, which received approval from the NCLT Prayagraj through an order dated November 04, 2025. The company has indicated that the expected completion timeline will be as per the approved resolution plan.

The restructuring involves the cancellation of existing preference share capital and the issuance of fresh preference share capital as mandated by the resolution plan implementation. All actions are being taken in compliance with applicable provisions of the Companies Act, 2013, and other relevant laws and regulations.

The company has communicated these developments to both the National Stock Exchange of India Limited and BSE Limited, fulfilling its disclosure obligations under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Alps Industries Limited , a textile manufacturing company, has undergone a significant board restructuring as part of its corporate insolvency resolution process. The company has appointed four new directors effective December 1, 2025, following the implementation of a resolution plan approved by the National Company Law Tribunal (NCLT).

New Board Appointments

The company has made the following key appointments to its board:

These appointments are subject to shareholder approval at the ensuing General Meeting, as per Sub-regulation (1C) of Regulation 17 of SEBI LODR Regulations.

Outgoing Directors

Pursuant to the NCLT order dated November 4, 2025, six existing directors, including Managing Director Sandeep Agarwal, have ceased to hold office. The complete list of outgoing directors is as follows:

This complete board overhaul marks a significant change in the company's leadership structure as part of its resolution process.

Financial Context

While the company undergoes this significant restructuring, it's important to note the challenging financial position reflected in its recent balance sheet data:

The negative total equity and the significant increase in current assets and liabilities highlight the financial challenges the company faces, underscoring the importance of the resolution plan and board restructuring.

The appointment of new directors, particularly those with expertise in finance and stock markets like Sandhya Kohli, may be aimed at steering the company through its current financial difficulties and implementing a turnaround strategy.

As Alps Industries Limited embarks on this new phase under fresh leadership, stakeholders will be keenly watching how the new board addresses the company's financial challenges and implements the NCLT-approved resolution plan.