Omkar Speciality Chemicals Approves Record Date, Private Placement, and Key Management Appointments
The Monitoring Committee of Omkar Speciality Chemicals Limited announced key resolutions following its meeting on April 15, 2026. The approvals cover the record date for share cancellation, the private placement of new equity shares, the sanctioning of a debt facility, and the appointment of new key managerial personnel (KMP).Share Structure and Financial Resolutions
The Committee approved two major actions concerning the company’s share capital structure. First, the record date for the extinguishment or cancellation of shares, mandated by the National Company Law Tribunal (NCLT) order dated July 31, 2025, was fixed as April 29, 2026. This date applies to the entire equity shares of INR 10 each, fully paid up, held by existing Promoters and the existing Public Shareholders.Second, the Committee approved the private placement of 5,00,000 equity shares, each with a face value of INR 10, at par. The total consideration for this issuance is INR 5,00,00,000 (Indian Rupees Five Crores only). The shares are allocated to IFFAS Kshitij SPV LLP.
The details of the proposed securities issuance are summarized below:
| Particulars | Shares Issued | Face Value per Share | Total Consideration |
|---|---|---|---|
| Equity Shares (Private Placement) | 50,00,000 | INR 10 | INR 5,00,00,000 |
| Total | 50,00,000 | INR 10 | INR 5,00,00,000 |
Debt Funding and Deposit Treatment
The Monitoring Committee also approved raising funds through a loan facility from Kshitij Polyline Limited. The committee sanctioned an amount not exceeding INR 20,00,00,000 (INR Twenty Crore Only), structured as a loan without any option for conversion into securities.Furthermore, the Committee approved treating the amount deposited towards earnest money by the SRA, which was deposited prior to the approval of the Resolution Plan, as debt/loan. This amount forms part of the total funding of INR 2,190 lakhs under the Resolution Plan.
Key Management Personnel Appointments
The Committee ratified several appointments for the company’s leadership team.1. Chief Financial Officer (CFO):
Mr. Mahendra Kumar Jain was appointed as the Chief Financial Officer of Omkar Speciality Chemicals Limited. He brings over 46 years of experience in the Manufacturing Industry, including 40 years in the plastic industry. Currently, he serves as the Managing Director and CFO of Kshitij Polyline Limited.
2. Company Secretary & Compliance Officer:
Mr. Kuldeep Menaria was appointed as the whole-time company secretary and compliance officer. Mr. Menaria is an Associate Member of the Institute of Company Secretaries of India (ICSI) and possesses over 6 years of experience in corporate secretarial, SEBI, RBI, and legal compliances.
The committee confirmed that neither Mr. Mahendra Kumar Jain nor Mr. Kuldeep Menaria are debarred from holding the office of Key Managerial Personnel by any SEBI order or other authority.
OMKARCHEM Stock Price Movement
Omkar Speciality Chemicals Limited shares today slipped by 0.24% to settle at ₹4.22. The stock saw a total trading volume of 21,521 shares during the session.Source:
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