Announced Fri, 17 Jul · 18:34 IST
Oxford Industries: new promoter, 99 percent capital cut, pivot to healthcare
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
Saroj Kumar Choudhary completed open offer and became new promoter with 46.46 percent stake (27.6 lakh shares), replacing Mazher N Laila. Board approved 99 percent capital reduction due to accumulated losses. Company plans to shift registered office from Maharashtra to Orissa and expand into healthcare, hospitals and pharma. PAMS resigned as auditor; Lipika and Associates appointed for 5 years. Choudhary also named CFO. All major items need shareholder approval.
Likely market impact
99 percent capital cut wipes out nearly all share value, heavy loss for shareholders; healthcare pivot under new promoter is a major business shift.