Outcome of the Board Meeting held for consolidation of 10 (Ten) equity shares having face value of Rs. 1/- (Rupee One) each into 1 (One) equity share having face value of Rs. 10/- (Rupees Ten).
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Candour Techtex Ltd's board has approved a consolidation of 10 equity shares of Rs. 1 face value each into 1 equity share of Rs. 10 face value each. This will reduce outstanding shares from about 18.76 crore to about 1.88 crore, while the total equity capital stays unchanged at Rs. 18.76 crore. The company said the aim is to improve liquidity of its shares in the stock market and rebuild investor confidence. The consolidation is expected to be completed within 2-3 months, subject to shareholder and regulatory approvals. The board also appointed Mrs. Karishma Rishabh Singhavi, a Chartered Accountant with over 10 years of experience in tax and advisory, as an Additional Non-Executive Independent Director for a 5-year term starting September 1, 2025.
Once effective, the share price is likely to adjust upward roughly ten-fold to mirror the consolidation, while each shareholder's total investment value remains unchanged. The higher face value may make the stock look more attractive to institutional buyers and improve trading perception.