Announced Fri, 17 Jul · 18:18 IST
New promoter takes over, 99% capital cut proposed, auditor replaced
Price
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Price reaction · full curve 14 horizons · vs prior close
-9.7%1-day move
₹8.85
prior close
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base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
————-9.7-14.1-18.4-22.5-26.3—————
Up moveDown movePending
AI summary
Oxford Industries has new promoter Mr. Saroj Kumar Choudhary with 46.46% stake via open offer. He is now MD and also appointed CFO. Statutory auditor PAMS and Associates resigned mid-term due to geographic issues; Lipika and Associates proposed as new auditor for 5 years. Board proposes 99% capital reduction due to accumulated losses, shifting registered office to Orissa, and adding healthcare and pharmaceutical businesses. Items need shareholder approval.
Likely market impact
Major change of control with 99% capital cut due to losses and shift into healthcare. Awaiting shareholder approval.