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13 Jul 2023, 08:00 PM
Extinguishment and issuance of new shares of RNAVAL
Reliance Naval and Engineering Limited has set the Record Date as 14th July 2023 for the cancellation of existing Ordinary Equity Shares and issuance of new ones to current shareholders and Hazel Infra Ltd (Special Purpose Vehicle).
Under the approved Resolution Plan, all existing ordinary equity shares will be cancelled and replaced with one new equity share of face value Rs. 10/- for every 275 shares held.
Existing shareholders will be considered public shareholders as per the Securities Exchange (Regulation) Rules, 1957. Fractional shares will be managed according to relevant legal provisions.
Extinguished shares will not be visible in your holdings, until new equity shares are credited. For more details, you can check the circular here.