Bengal & Assam Company Limited, acting on behalf of the Promoter Group of JK Paper Limited, disclosed an increase in shareholding following a Scheme of Arrangement sanctioned by the NCLT. The allotment resulted in the Promoter Group acquiring 1,19,16,422 equity shares. Consequently, the total shareholding of the Promoter Group in JK Paper has increased by 3.31%, reaching 52.94% of the total diluted share capital as of March 20, 2026.
Disclosure of Shareholding Increase Post-Arrangement
Bengal & Assam Company Limited (BACL), serving as the Promoter and representative of the Promoter Group of JK Paper Limited (JKPL), has formally disclosed an increase in its stake in JKPL. This transaction follows the sanctioning of a Scheme of Arrangement by the Hon’ble National Company Law Tribunal, Ahmedabad Bench, effective from March 15, 2026.
Details of Equity Allotment
The actual allotment of shares occurred on March 20, 2026. The acquisition involved two key entities within the Promoter Group:
- Accurate Finman Services Limited was allotted 18,66,431 equity shares.
- J.K. Credit & Finance Limited was allotted 1,00,49,991 equity shares.
In total, the constituents of the Promoter Group acquired 1,19,16,422 equity shares, representing 6.57% of the total capital.
Pre and Post-Acquisition Holding Status
The disclosure details the change in the Promoter Group’s holdings:
Holding Before Acquisition:
- The aggregate holding across the group entities (Accurate, JK Credit, and BACL & Constituents) stood at 8,40,80,211 shares, accounting for 49.63% of the total share/voting capital.
Holding After Acquisition:
- The post-acquisition holding reached 9,59,96,633 shares, translating to 52.94% of the total diluted share/voting capital. This represents a net increase of 3.31% for the group.
Capital Structure Changes
The completion of the allotment resulted in significant adjustments to the company’s capital base:
- Equity Share Capital Before Allotment: The capital was Rs. 1,69,40,23,440, comprising 16,94,02,344 Equity Shares.
- Equity Share Capital After Allotment: The capital increased to Rs. 1,81,31,87,710, comprising 18,13,18,771 Equity Shares (fully paid up). The total diluted capital remained the same post-acquisition, reflecting the nature of the transaction as an allotment following a corporate restructuring.
Source: BSE
