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Awaiting price reaction for this filing.
Sikozy Realtors Ltd has informed BSE that its draft Scheme of Arrangement involving a 90% reduction in paid-up equity share capital is not required to go through the SEBI Regulation 37 approval process. The scheme, originally filed on October 11, 2024, aims to write off the company's accumulated losses by reducing share capital on a uniform pro-rata basis across all shareholders. BSE confirmed on June 16, 2025 that under SEBI's December 2024 amendment to Regulation 37(6)(b), such loss-write-off schemes are exempt from the standard approval route and only need to be filed with stock exchanges for disclosure purposes. The reduction, if approved, will proportionally shrink every shareholder's share count by 90%, though their percentage ownership will remain unchanged.
For shareholders, this is largely a procedural update — it means faster processing without SEBI's separate approval, but it also confirms a 90% cut in their share quantity. The effective value impact depends on the company's net worth post-restructuring; the move is designed to clean up the balance sheet by eliminating accumulated losses rather than signalling business growth.