D S Kulkarni Developers Limited Equity Shares Set for Listing Post Capital Restructuring
DS Kulkarni Developers Limited is set to list its equity shares on major exchanges, following approval for the admission of 10 million shares and a significant capital restructuring. The listing is scheduled to commence on August 3, 2026.The company has been granted approval by both BSE Limited and the National Stock Exchange of India Limited (NSE) for the listing and trading of 1,00,00,000 equity shares of ₹10/- each. On the BSE, these securities have been classified in the 'T' Group and will be traded in the Trade-to-Trade segment.
The new share issue represents a major shift from the previous capital structure. The issued, subscribed, and paid-up share capital has changed from ₹25,80,10,080/- (divided into 2,58,01,008 Equity Shares) to ₹10,00,00,000/- divided into 1,00,00,000 Equity Shares, each with a face value of ₹10/-.
Share Allotment Details
The total issuance of the equity shares is detailed as follows:| Security Type | Number of Securities | Face Value |
|---|---|---|
| Total Equity Shares Issued | 1,00,00,000 | ₹10/- each |
The allotment structure includes two parts: the majority shares were allotted to a key stakeholder while the remaining portion was offered publicly.
A breakdown of the allotment and lock-in details is presented in the table below:
| Allotment Segment | Number of Shares | Distinctive Nos. Range | Lock In Upto |
|---|---|---|---|
| Preferential Allotment to Resolution Applicant/Affiliates | 95,00,000 | 1 to 95,00,000 | August 31, 2027 |
| Offer for Sale (OFS) to Public Shareholders | 5,00,000 | 95,00,001 to 10,00,000 | Free |
The company's capital restructuring occurred subsequent to the approval of a Resolution Plan under the provisions of the Insolvency and Bankruptcy Code, 2016, by the National Company Law Tribunal (NCLT) on June 23, 2023.
As part of this approved Resolution Plan, the share capital invested by other shareholders was cancelled, and the entire pre-CIRP share capital held by the promoters and public shareholders was also cancelled. The plan provided that the successful resolution applicant/its affiliates would jointly acquire 95% of the total issued equity share capital (1 crore shares), with the balance being managed through a mechanism involving new public shareholders.
The stock features are summarized as follows:
| Detail | Status |
|---|---|
| Stock Symbol | DSKULKARNI |
| ISIN No. | INE891A01022 |
| Market Lot | 1 |
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