Board approves capital reduction and 95 lakh share issue to successful bidder

The board approved cancelling all 3.10 crore existing shares of Rs 10 each under the liquidation orders. It will allot 5 lakh fully paid shares to eligible public shareholders at 1 for every 41 shares held on 26 October 2026, subject to approvals. It also approved 95 lakh fully paid shares at Rs 10 each to Shilpa Singh, nominee of the successful bidder.