Announced Sat, 4 Jul · 11:30 IST
NCLT confirms 50% share capital reduction; total share count to halve
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AI summary
NCLT has confirmed Tridev Infraestates (formerly Ashutosh Paper Mills) plan to halve share capital to write off accumulated losses. Face value drops from Rs 10 to Rs 5 per share, then every 2 shares consolidate into 1 share of Rs 10. Total capital falls from Rs 6.52 crore (65.25 lakh shares) to Rs 3.26 crore (32.63 lakh shares). Shareholders stay in same proportion; fractional shares will be paid in cash.
Likely market impact
Total shares held will halve but ownership percentage unchanged. Purpose is to write off past losses. Fractional share payouts may cause minor cash outflow.