Fenoplast Ltd has set Monday, March 23, 2026 as the record date for a significant reduction in its equity share capital under a resolution plan approved by the National Company Law Tribunal (NCLT). The announcement, made on March 11, 2026, outlines a selective reduction scheme that will impact both promoter and public shareholders differently.

NCLT-Approved Resolution Plan Details

The reduction is being implemented pursuant to a resolution plan approved by the Hon'ble National Company Law Tribunal, Hyderabad Bench through its order dated January 22, 2025. The plan operates under the framework of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Companies Act, 2013, and the Insolvency and Bankruptcy Code, 2016.

Share Capital Reduction Structure

The selective reduction will follow a differentiated approach for various shareholder categories:

Public Shareholder Impact

For public shareholders, the plan involves a share consolidation mechanism where they will receive one equity share of Rs.10 each for every 20 equity shares of Rs.10 each held on the record date. This represents a significant consolidation ratio that will substantially reduce the number of outstanding shares while maintaining proportional ownership among remaining public shareholders.

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 42 of SEBI's listing regulations by announcing the record date well in advance. The communication, signed by Director Krishna Kumar Haridas (DIN: 00260198), ensures that shareholders have adequate notice of the corporate action.

Implementation Timeline

With the record date set for March 23, 2026, shareholders whose names appear in the company's records on this date will be affected by the share capital reduction. The NCLT's approval in January 2025 provided the legal framework for this restructuring, which is now moving toward implementation after the requisite regulatory processes.