Omkar Overseas plans restructuring, preferential share issue

** Omkar Overseas Limited (BSE: OMKAR) has announced a restructuring plan involving a reduction of share capital and a subsequent preferential issue of equity shares. The Board of Directors approved the scheme, which includes reducing share capital by cancelling unpaid and fully paid shares, subject to NCLT approval. Up to 2,000,000 new equity shares at ₹10 each will be issued on a preferential basis to identified non-promoter investors. The company aims to improve its balance sheet by offsetting accumulated losses. The preferential allotment involves 29 non-promoter investors, including Jagdishkumar Vitthalbhai Patel and Shrikesh Prabhulal Mehta. The issue price will be determined as per SEBI regulations. The proposal remains subject to NCLT, Ahmedabad bench, approval.