Announced Tue, 7 Jul · 19:41 IST
Boston Commerce to cancel 95% of shares to wipe off losses; auditor changes
Management Changes View source PDF
Price
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Price reaction · full curve 14 horizons · vs prior close
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₹5.60
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AI summary
Board approved cancellation of 66,52,090 equity shares (about 95% of capital) to set off Rs 6.65 crore of accumulated losses. Capital will shrink from Rs 7.00 crore to Rs 35.01 lakh. Shareholding percentages remain unchanged on pro-rata basis; no cash is paid to shareholders. Also appointed S Parth & Co as statutory auditor till 2031 AGM, new secretarial and internal auditors, and Ms Deshna Jain as Company Secretary. EGM scheduled for 5 August 2026.
Likely market impact
Existing shareholders lose about 95% of their shares on paper but percentage stake stays same; weak balance sheet being cleaned up.