Announced Fri, 17 Jul · 18:29 IST
Promoter change, new auditor and CFO, office shift to Orissa, 99 percent capital cut
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-9.7%1-day move
₹8.85
prior close
—
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
————-9.7-14.1-18.4-22.5-26.3—————
Up moveDown movePending
AI summary
Mr. Saroj Kumar Choudhary became new promoter with 46.46 percent stake after open offer, replacing Mazher N Laila. PAMS and Associates resigned as statutory auditor citing geographic constraints; Lipika and Associates appointed for 5 years. Choudhary also named CFO. Registered office to shift from Maharashtra to Orissa. Capital reduction of up to 99 percent proposed due to accumulated losses. Main objects expanded into healthcare and pharma.
Likely market impact
Large restructuring: ownership change, auditor switch, and proposed 99 percent capital cut signal heavy losses and a fresh business direction.