Announced Mon, 31 Aug · 16:42 IST
Board approves capital reduction and share consolidation
Price
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Price reaction · full curve 14 horizons · vs prior close
-9.4%1-day move
₹8.30
prior close
₹8.30
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
+0.0+0.0+0.0+0.0-9.4-10.2-10.1-7.2-6.4-4.2————
Up moveDown movePending
AI summary
Board approved a Scheme of Reduction of Capital to cancel 56.38 lakh equity shares of Rs 2 each on a pro-rata basis, reducing paid-up capital from Rs 2.05 crore to Rs 92.26 lakh and setting off Rs 1.13 crore of accumulated losses. Face value will then be consolidated from Rs 2 to Rs 10 (every 5 shares become 1). Effective ratio: 100 old shares become 9 new. Shareholding percentages stay unchanged. Subject to NCLT and shareholder approvals.
Likely market impact
Balance sheet improves as accumulated losses reduce. No change in shareholders economic interest. Awaiting NCLT and shareholder approvals.