Popees Cares Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 06/06/2025 ,inter alia, to consider and approve 1. Reduction of capital of the ....
Awaiting price reaction for this filing.
Popees Cares Limited has called a board meeting on 06 June 2025 to consider a 99% reduction in paid-up capital to offset accumulated business losses, subject to shareholder approval. The board will also consider filing the scheme with the stock exchange under SEBI regulations, appoint an internal auditor for FY 2025-26, and reconstitute the board or its committees. The trading window for insiders will remain closed until 48 hours after the announcement. A 99% capital write-down is a strong indicator that the company has suffered severe cumulative losses over the years.
This is a significantly negative signal for shareholders — a 99% capital reduction means accumulated losses have nearly wiped out the company's paid-up capital, and existing shareholders' share count or face value will be drastically reduced. Expect high volatility and a likely sharp negative reaction in the stock price when this is approved.