Announced Fri, 17 Jul · 18:47 IST
New promoter takes over Oxford Industries; 99% capital cut proposed
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—————
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AI summary
Oxford Industries board noted open offer completion. Mr. Saroj Kumar Choudhary becomes new promoter holding 27.61 lakh shares (46.46%). Old promoter Mazher N Laila exits. Board proposed 99% share capital reduction due to accumulated losses, shifting registered office from Maharashtra to Orissa, and adding healthcare and pharma as new business areas. New auditor Lipika and Associates appointed for 5 years.
Likely market impact
Major change of control plus 99% capital cut proposed. Shareholders to vote on office shift, expansion into pharma, and capital reduction at AGM.