Capital reduction approved, 100:5 ratio for public shareholders
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Board approved reduction of share capital under court-approved Resolution Plan. Promoter shares to be fully cancelled. Public shareholders' holdings reduced in 100:5 ratio - every 100 shares becomes 5, a 95 percent reduction. Record date fixed as August 5, 2026. This follows NCLT order under Insolvency Code dated July 10, 2026.
Major haircut for shareholders. Public holdings will reduce by 95 percent. Promoter shares fully cancelled. Severe value erosion.