Reliance Retail to Acquire Future Supply Chain; Existing Shares Cancelled with Zero Value
The NCLT has approved Reliance Retail Ventures Limited's resolution plan for Future Supply Chain Solutions Limited (FSC). Under the plan, the entire existing equity share capital of 4.38 crore shares will be cancelled and extinguished without any payment to current shareholders. Reliance Retail will become the sole owner with 100% shareholding through fresh capital infusion, and the company will be delisted from the stock exchanges. Existing investors will receive no recovery as the liquidation value for equity shareholders is determined to be NIL.
முக்கிய அம்சங்கள்
Reliance Retail Ventures Limited to acquire 100% stake in FSC via the NCLT-approved resolution plan.
Existing 4,38,83,598 equity shares will be entirely cancelled and extinguished with zero compensation to shareholders.
The company will be delisted from BSE and NSE as an integral part of the resolution process.
Company's net worth as of March 31, 2024, was negative INR 293.57 crore.
Liquidation value for equity shareholders is officially determined as NIL, meaning total loss for public investors.
👀 கவனிக்க வேண்டியவை
Existing shareholders should expect a total loss of their investment as shares will be extinguished with zero recovery. No exit opportunity or payment will be provided to public shareholders during the delisting process.
