Suryachakra Power Corporation Reschedules Board Meeting for Q4 Results, Considers Name Change and Major Acquisitions
Suryachakra Power Corporation Limited has rescheduled its Board of Directors meeting. Originally set for April 14, 2026, the meeting will now take place on Saturday, April 18, 2026. The primary agenda includes considering and approving the Unaudited Standalone Financial Results for the company for the quarter ended March 31, 2026.The company confirmed that the Trading Window for designated persons remains closed from Wednesday, April 1, 2026, until 48 hours after the financial results are made public.
During the board meeting, the corporation plans to address several key corporate and operational matters. Key agenda items include considering and approving the Unaudited Financial Results for the quarter ending March 31, 2026, and taking note of the Limited Review Report issued by the Statutory Auditors.
Operationally, the board will consider a significant name change from "Suryachakra Power Corporation Limited" to "Suryastone Integrated Renewable Corporation Limited." Furthermore, the company intends to consider approving the business plan for acquiring tea estate land admeasuring approximately 580.7 hectares in Assam. This acquisition is earmarked for establishing a CBG & CNG Agro & BioPellets project.
The board agenda also includes:
- Considering the proposal for acquiring other companies and authorizing the necessary due diligence.
- Considering and approving the convening of an Extra-Ordinary General Meeting (EGM) of the Members.
- Reviewing processes related to the NCLT-sanctioned capital reduction and allotment of shares to public shareholders.
Proposed Capital Restructuring Details
Regarding its capital structure, Suryachakra Power Corporation seeks approval for a capital restructuring plan. The proposal outlines the following shareholding mix:| Shareholding Category | Percentage (%) | Number of Shares |
|---|---|---|
| Public Shareholding (Before restructuring) | 77.25% | 11,55,88,731 |
| Promoters holding (Before restructuring) | 22.75% | 3,40,44,229 |
| Total | 100% | 14,96,32,960 |
Post-restructuring, the current paid-up capital includes 19,40,000 shares held by M/s Reddy Investments Pvt Ltd and 700 shares held by seven other subscribers, totaling 19,40,700 shares.
As part of the plan, the new promoter, M/s. Reddy Investments Private Limited, is seeking to offload 5% of its shareholding through an Offer for Sale (OFS) mechanism on the stock exchange. These 1,02,142 equity shares will be reserved for erstwhile public shareholders who previously held the extinguished equity capital, allocated in the ratio of 0.000883 share for every 1 share held.
The company proposed that the shares offered under the OFS be issued at a Face Value of Rs. 10/-.
Stock Price Movement
Suryachakra Power Corporation Ltd shares were suspended due to penal reasons at the close of trade on Monday, reporting a last traded price of ₹0.60. The equity had shown intraday movement between a low of ₹0.59 and a high of ₹0.62 before trading was halted for the day.Source:
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