Omkar Speciality Chemicals Unveils Broad Plan for Capital Reduction and Share Issuance
Omkar Speciality Chemicals Limited, a company admitted into Corporate Insolvency Resolution Process (CIRP) via an order dated December 5, 2022, has outlined a broad step plan detailing its strategy for capital restructuring, share allotment, and ensuring compliance with Minimum Public Shareholding (MPS) norms.The proposed plan involves multiple steps, beginning with a significant capital reduction and culminating in the issuance of fresh equity shares to the Resolution Applicant (RA).
The plan outlines the following key actions:
- Capital Reduction: Following the NCLT order dated July 31, 2025, and the approved Resolution Plan, the company's entire share capital is set to be reduced to NIL.
- Share Issuance to RA: The Company plans to pass an enabling resolution in the Monitoring Committee meeting for the issuance of fresh equity shares of face value INR 10 each to the Resolution Applicant.
- Allotment: After securing in-principle approval from the stock exchange(s) for the proposed issue and allotment, the company will circulate a letter of offer to the RA. The RA is expected to accept the offer and subscribe to the fresh issue of equity shares at a face value of INR 10 each. Upon completion of this step, the RA will hold the entire paid-up capital (100%) in the Company.
- Minimum Public Shareholding (MPS): To comply with requirements, the Company will undertake an Offer for Sale (OFS) of 5% of equity shares. These shares will be held by the promoter/promoter group through the stock exchange mechanism, ensuring the MPS requirement is met.
The proposed actions are integral to the continuation of the Resolution Plan approved under the Insolvency and Bankruptcy Code, 2016.
The plan was presented by Ajit Kumar, Chairperson of the Monitoring Committee, on April 28, 2026.
OMKARCHEM Stock Price Movement
Shares of Omkar Speciality Chemicals Limited today slipped by 4.75% to settle at ₹3.41. Trading saw a total volume of 23,987 shares recorded during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.