Notice of Extra Ordinary General Meeting to be held on 15th May, 2026.
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Virgo Global Ltd is convening an EGM on 15th May 2026 to seek shareholder approval for a major capital reduction scheme. The company proposes to reduce its paid-up equity share capital from Rs.4.20 crore (1.05 crore shares) to Rs.58.82 lakh (14.71 lakh shares) by cancelling and extinguishing approximately 90.34 lakh fully paid-up equity shares worth Rs.3.61 crore. The cancelled share capital will be utilized to write off the company's accumulated losses of Rs.3.63 crore as of 31st March 2026, which have eroded the company's net worth over several years due to adverse business conditions. The scheme requires NCLT Hyderabad confirmation after shareholder approval and is intended to present a clean balance sheet, restore eligibility for raising fresh capital from markets and financial institutions, and unlock shareholder value.
Existing shareholders will see their shareholding proportionally reduced by approximately 86% (90.34 lakh shares cancelled) while maintaining their percentage ownership. The company's balance sheet will reflect a healthier financial position after accumulated losses are eliminated, potentially making it more attractive for future fundraising and business opportunities.