Dharti Proteins Ltd, formerly Devika Proteins, has completed its corporate insolvency resolution. This includes cancellation of old promoter shares, reduction in public shareholding, and allotment to new promoters and creditors. A new ISIN (INE248C01021) is effective July 1, 2026.
Dharti Proteins Completes Corporate Insolvency Resolution and ISIN Change
New ISIN: INE248C01021 Old ISIN: INE248C01013 Reader Takeaway: Successful insolvency resolution is positive, but capital restructuring impacts existing shareholders significantly. ## What just happened Dharti Proteins Limited, previously known as Devika Proteins Limited, has successfully implemented its approved Resolution Plan following the Corporate Insolvency Resolution Process (CIRP). This restructuring involved the cancellation of the entire shareholding of the erstwhile promoters and a proportionate reduction in the shareholding of existing public shareholders. Subsequently, new equity shares have been allotted to the new promoter group and secured financial creditors. ## Why this matters The completion of the CIRP signifies a crucial turnaround for Dharti Proteins, moving it out of insolvency. For investors, this means a complete overhaul of the company's capital structure and ownership. The cancellation of old promoter shares and reduction in public holdings are typical steps to reset the balance sheet and facilitate new management and ownership. ## The backstory The company was undergoing the Corporate Insolvency Resolution Process (CIRP). The successful implementation of the approved resolution plan marks the end of this period of financial distress and uncertainty. ## What changes now Dharti Proteins will operate under new promoters and a restructured capital base. A new ISIN, INE248C01021, has been assigned and is effective from July 1, 2026. The depositories NSDL and CDSL have confirmed the ISIN change. ## Risks to watch While the insolvency is resolved, the significant dilution for existing public shareholders and the change in ownership present a new set of dynamics. Investors will need to evaluate the new management's strategy and execution capabilities. ## Investor Takeaway Investors should be aware that control has shifted to new entities. The resolution of CIRP is a positive step for the company's future, but the capital restructuring has fundamentally altered the shareholder base. Monitoring the new management's business strategy and operational plans will be key.
