SHIRISH S S (Proprietor) (1080 Points)
26 June 2025I had 150 shares of reliance Naval and defence in my demat account. It is no longer seen. I reliased it now.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(195722 Points)
Replied 27 June 2025
Swan Energy Limited acquired RNEL through a resolution plan.
Following the acquisition, Reliance Naval and Engineering Limited was officially renamed Swan Defence and Heavy Industries Limited.
1 equity share of Swan Defence and Heavy Industries was issued for every 275 equity shares held by existing shareholders of RNEL.
Since you had 150 shares, and the conversion ratio was 1:275, you would not have received any full shares of Swan Defence and Heavy Industries. Your shares would have been extinguished. Fractional shares were generally managed according to legal provisions, often meaning they were held in trust or the value was adjusted.
CAclubindia
