Majestic Research Services and Solutions Ltd has allotted 3,92,350 equity shares to a new promoter group as part of its NCLT-approved insolvency resolution plan. This move results in a major change in control, with the new acquirers now holding a 95% stake in the company. The transaction, executed at face value, marks a pivotal stage in the firm’s corporate restructuring process and operational turnaround strategy.
Majestic Research Services Allots 3.92 Lakh Shares Under NCLT Plan
Shares allotted: 3,92,350 equity shares at Rs 10 per share.
New promoters take control with 95% aggregate stake in the company.
Reader Takeaway: The NCLT-approved transfer centralizes control under a new promoter group, marking a major corporate restructuring milestone.
What just happened
Majestic Research Services and Solutions Ltd has completed the allotment of 3,92,350 fresh equity shares to a new set of acquirers. Each share was issued at a face value of Rs 10. This issuance is a direct execution of the Resolution Plan sanctioned by the National Company Law Tribunal (NCLT), Bengaluru Bench, on June 20, 2025, under the Insolvency and Bankruptcy Code.
Why this matters
This transaction fundamentally resets the company's equity structure. By allocating a collective 95% stake to the new promoter group, the company has effectively transferred management and operational control. The specific acquirers include Parth Shaileshbhai Patel (38%), Rashmikaben S Patel (28.5%), and three other stakeholders who each hold 9.5%. This change in control is a vital step in moving the company out of insolvency and toward potential operational stability.
The backstory
The company had been navigating insolvency proceedings, which concluded with the NCLT approval of a Resolution Plan. Per standard market regulations, this acquisition is exempt from the mandatory open offer requirements under SEBI's SAST Regulations, specifically due to the exemption provided for NCLT-approved resolution plans under Regulation 10(1)(da).
What changes now
The company is now under the control of the new promoter group. Investors should watch for announcements regarding the future business strategy, management appointments, and the specific timeline for the execution of the NCLT-approved turnaround plan. The concentration of control suggests the new owners will now drive the company's strategic roadmap without the previous overhang of insolvency uncertainty.
What to track next
Stakeholders should monitor upcoming board meetings or filings that outline the next phase of the resolution plan's implementation. Specifically, look for any updates on capital deployment or changes in the company's business model as the new management team begins its oversight.