Board approves 75 percent capital reduction to wipe out losses
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The Board approved a 75 percent cut in paid-up equity capital by cancelling 59.56 lakh shares, reducing it from Rs 7.94 crore to Rs 1.99 crore. Securities Premium of Rs 6.47 crore will be wiped out to set off accumulated losses. No cash payout; face value stays at Rs 10; ownership percentages unchanged. AGM set for Aug 8, 2026. Also re-appointed statutory auditors and two independent directors. Needs NCLT and shareholder approval.
75 percent share cancellation signals serious financial distress. Your percentage stays the same but each share represents a bigger claim on a cleaner balance sheet post-approval.