Capital Reduction Approved by the Share Holders of the Company in the AGM held today.
Awaiting price reaction for this filing.
Shareholders of Quintegra Solutions approved a reduction of the company's paid-up equity share capital in the AGM held on September 24, 2025. The face value of each equity share will be reduced from Rs.10 to Re.1, while the total number of shares stays the same at 2.68 crore. This will wipe out Rs.24.13 crore from share capital to absorb part of the company's accumulated losses of Rs.178.12 crore as of March 31, 2025. Another Rs.138.31 crore of losses will be adjusted against share premium, general reserve, and capital reserve, leaving Rs.15.68 crore of accumulated losses still on the books. The move is subject to NCLT (National Company Law Tribunal) approval. The company said this cleanup is needed to attract new investors and raise fresh capital for reviving its IT consulting business, which suffered after failed acquisitions in 2007-08 and the global financial crisis.
Existing shareholders' ownership percentage does not change since no shares are being cancelled. The exercise is essentially a balance sheet cleanup to clear historical losses from failed acquisitions, which could help the company raise new capital in the future. Short-term stock price impact is unlikely, but the company still carries significant legacy losses and needs NCLT approval before the reduction takes effect.