Please find attached EGM Notice.
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Sikozy Realtors Ltd has called an Extraordinary General Meeting on August 8, 2025 (via video conferencing) to seek shareholder approval for a 90% reduction of its paid-up equity share capital. The company proposes to cancel 4,01,24,700 equity shares of Re. 1 each, reducing paid-up capital from Rs. 4.46 crore (4.45 crore shares) to Rs. 44.58 lakh (44.58 lakh shares) to write off accumulated losses of Rs. 6.04 crore as of March 31, 2024. The losses reportedly stem from unsuccessful real estate joint venture projects in Karjat and Mumbai that did not take off. BSE has issued a non-applicability letter under Regulation 37 dated June 16, 2025, and the scheme will additionally require NCLT confirmation. E-voting will run from August 5 to August 7, 2025, with a cut-off date of August 1, 2025.
Every shareholder's holding will be reduced proportionally by 90% with no cash payout, effectively shrinking their position significantly. The restructuring aims to clean the balance sheet and enable future fundraising, but it also clearly reflects major past failures in the company's real estate ventures and could negatively affect share liquidity and investor confidence.