Lord’s Mark Industries – To Issue Over 10 Lakh Shares to Bennett Coleman Following Delhi High Court Resolution

Expert Analysis:

• Lord’s Mark Industries has agreed to issue 10,28,483 equity shares to Bennett Coleman and Co. Ltd. (BCCL) at a conversion price of ₹158 per share, following a Delhi High Court order dated 01 June 2026.

• The share issuance arises from a Share Cum Warrant Subscription Agreement dated 01 August 2023, under which BCCL had subscribed to convertible warrants with an aggregate value of approximately ₹13 crore.

• The dispute was filed under Section 9 of the Arbitration and Conciliation Act, 1996, with BCCL seeking interim relief relating to warrant conversion and the proposed listing of the company’s shares.

• Lord’s Mark Industries informed the Delhi High Court that it intended to honor the agreement and issue the equity shares, leading to the petition being withdrawn and disposed of without any adverse order against the company.

• The company clarified that delays in listing and trading approvals had earlier prevented the conversion of warrants into equity shares, making regulatory timing a key factor behind the dispute.

• As part of the resolution, Lord’s Mark Industries has committed to disclose BCCL’s rights and entitlements to the Monitoring Committee overseeing implementation of the Resolution Plan, ensuring procedural and regulatory compliance.

• The development comes during a period of broader corporate restructuring and governance strengthening for the company, following its recent BSE listing approval under the PPIRP framework and board-level institutional enhancements.

• The issuance of shares to Bennett Coleman, one of India’s most prominent media conglomerates, may also improve market visibility and reinforce confidence around the company’s ongoing restructuring and capital-market transition.