Suryachakra Power approves 19.4 lakh shares for Reddy Investments

Suryachakra Power Corporation Limited approved 19.4 lakh equity shares for Reddy Investments Pvt Ltd on 16 December 2025, alongside cancellation of all erstwhile promoter equity, under a restructuring disclosed on 3 November 2026. The filing also reserves 97,035 shares for eligible public shareholders at a stated 0.000883-share-for-one-share ratio.

What capital restructuring has Suryachakra Power approved?

Suryachakra Power has approved cancellation of pre-existing equity, a limited reservation for eligible public holders and a 19.4 lakh-share allotment to the assignee. The company said these measures followed orders of the National Company Law Tribunal, Hyderabad Bench, dated 18 July 2024 for capital restructuring after acquisition under the Insolvency and Bankruptcy Code, 2016.

The approvals were made through two board meetings in the 2025-26 financial year. At meeting 13/2025-26 on 18 September 2025, Suryachakra Power approved the treatment of erstwhile promoter and public equity. At meeting 15/2025-26 on 16 December 2025, it approved the 19.4 lakh-share allotment to Reddy Investments Pvt Ltd.

The largest specified action is the 19.4 lakh-share allotment approved in December 2025, compared with the 97,035 shares reserved for eligible public holders in September 2025. Suryachakra Power did not disclose an issue price, final issued share capital or Reddy Investments Pvt Ltd's resulting ownership percentage in its 3 November 2026 intimation.

How will Suryachakra Power treat promoter and public shares?

Suryachakra Power will cancel the entire equity shareholding of its erstwhile promoters and promoter group, reducing it to zero without any payout. The company approved this action on 18 September 2025, but its filing does not state the number of promoter shares subject to cancellation.

Eligible public shareholders will have 97,035 shares reserved for them, which Suryachakra Power described as 5% of shares. The company set a ratio of 0.000883 share for every one share previously held in the extinguished equity capital, again without any payout. It separately said 700 shares had been allotted in PAS-3 to nominee/public shareholders.

The two categories therefore receive different treatment under the September 2025 approval: former promoter equity is fully extinguished, while a defined pool is reserved for public holders who previously held extinguished capital. Suryachakra Power did not identify the qualifying public holders beyond that description or provide a date for crediting the reserved 97,035 shares.

Why is Reddy Investments receiving Suryachakra Power shares?

Suryachakra Power approved the 19.4 lakh-share allotment because Reddy Investments Pvt Ltd is the assignee in its going-concern sale process. The filing identifies Indo Aquatics Limited as the successful auction purchaser under a National Company Law Tribunal order dated 1 September 2022, and says Indo Aquatics Limited later assigned the company to Reddy Investments Pvt Ltd.

The liquidator issued a sale certificate on 14 June 2023 for the going-concern sale of Suryachakra Power under the Insolvency and Bankruptcy Code, 2016. The company said the sale was made on an “as is where is”, “whatever there is” and “without recourse” basis. It did not disclose the sale consideration or the terms of the later assignment to Reddy Investments Pvt Ltd.

Suryachakra Power said the assignee had initiated the takeover process, including records and papers, and that new management joined its board with effect from 29 March 2025. The 19.4 lakh shares are disclosed as part of capital restructuring connected to that takeover, rather than as a public fund-raising or employee-share issuance.

What is the status of Suryachakra Power's capital audit filing?

Suryachakra Power said a reconciliation of share capital audit report for the quarter ended 30 September 2026 would serve no meaningful purpose until the restructuring exercise is updated. Its 3 November 2026 notice was issued in connection with Regulation 76 of the Securities and Exchange Board of India Depositories and Participants Regulations, 2018.

The company said it had filed relevant corporate action forms with depositories and listing applications with stock exchanges to implement the approved measures. As of 3 November 2026, both were under process. The filing consequently reports approvals and applications, rather than confirming that all cancellations, reservations and allotments had been completed by 30 September 2026.

The timing shows that the board approvals of 18 September 2025 and 16 December 2025 preceded the quarter ended 30 September 2026, but remained subject to processing in the November notice. Suryachakra Power did not include a revised share-capital reconciliation or final post-restructuring share count in that disclosure.

What remains undisclosed in Suryachakra Power's restructuring?

Suryachakra Power has not disclosed the final number of issued shares after the proposed 19.4 lakh allotment, 97,035-share reservation and 700-share PAS-3 allotment. It also did not disclose post-restructuring holdings for Reddy Investments Pvt Ltd, public shareholders or any other shareholder category, preventing an ownership-percentage calculation from this filing alone.

The status of depository and stock-exchange processing also remained unresolved on 3 November 2026. Suryachakra Power said its corporate action forms and listing applications were under process, while the assignee was still undertaking the complete takeover process. The filing gives no completion date for either process.

Conclusion

Suryachakra Power's disclosed plan replaces the previous ownership structure through three actions: full cancellation of erstwhile promoter equity, a 97,035-share reservation for eligible public holders, and a 19.4 lakh-share allotment for Reddy Investments Pvt Ltd. The allotment approved on 16 December 2025 is substantially larger than the public-share reservation approved on 18 September 2025.

The next point to watch is completion of the corporate action forms and listing applications, which were under process on 3 November 2026. A subsequent company update could establish the final issued capital, the date of share-credit completion and the status of the takeover process that Suryachakra Power said the assignee had initiated.