Capital Reduction: 50% equity shares to be cancelled to set off losses
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Samsrita Labs announced a capital reduction to cancel 1,13,74,855 equity shares (about 50% of paid-up capital) on a pro-rata basis. Paid-up capital will drop from Rs. 22.75 crore to Rs. 11.37 crore, with face value of Rs. 10 per share unchanged. No cash consideration will be paid to shareholders. The move aims to set off Rs. 11.37 crore of accumulated losses and cancel the entire share premium of Rs. 11.58 crore. Shareholding percentages of all shareholders will remain unchanged after the reduction.
Pro-rata cancellation means no value loss for shareholders, but it signals large past losses. Net worth improves on paper and share count halves.