1. Considered and fixed the record date as Wednesday, May 20, 2026 for the purpose of giving effect to the reduction of paid-up equity share capital of the Company, from Existing Paid-up ....
Awaiting price reaction for this filing.
The Board of Directors of Charms Industries Limited approved a reduction of paid-up equity share capital. The face value of shares will be reduced from Rs. 10 to Re. 1 per share, effectively consolidating every 10 shares into 1 share. The paid-up capital will reduce from Rs. 4,10,61,000 to Rs. 41,06,100, a reduction of Rs. 9 per share. The record date has been fixed as May 20, 2026 for implementing this capital reduction. The company stated it will safeguard interests of creditors, stakeholders, and government revenue during this process.
This capital reduction (reverse consolidation) is typically done to write off accumulated losses or streamline capital structure. Shareholders will see their number of shares reduced by 90% while maintaining the same proportionate ownership. This is not a dividend or buyback but an administrative capital restructuring.