Quintegra Solutions Limited has informed the Exchange regarding outcome of the Board meeting held on August 26, 2025. AGM. Book Closure and Record Dates have been finalised among other things.
Awaiting price reaction for this filing.
The Board of Directors of Quintegra Solutions met on August 26, 2025 and approved several key items. The 31st AGM is scheduled for September 24, 2025 via video conferencing, with book closure from September 18-24, 2025 and record date of September 17, 2025 for e-voting. The Board proposed reducing the face value of equity shares from Rs.10 to Re.1 per share, keeping the number of shares unchanged at 2,68,13,830, thereby cutting paid-up capital by about Rs.24.13 crore. The freed-up amount will be used to reduce accumulated losses of Rs.178.12 crore, helping clean up the balance sheet. The Board also approved amendments to the Articles of Association to enable this capital reduction, and appointed Mr. B. Prabhakar as Secretarial Auditor for a 5-year term (FY 2025-26 to FY 2029-30). The rationale stems from past bad acquisitions during the 2008 financial crisis, with the company now seeking to attract new investors for revival.
Shareholders will vote on the capital reduction at the AGM; if approved, the stock's face value drops from Rs.10 to Re.1, but the number of shares stays the same, so percentage ownership is unaffected. The move is aimed at cleaning up legacy losses to make the company more attractive for fresh fundraising, which is a positive long-term signal though the underlying business remains small and the company has a history of significant past losses.