We hereby submit the details of corporate action of reduction of capital approved by the Board of Directors.
Awaiting price reaction for this filing.
The Board of Pasupati Fincap Ltd has approved a Scheme of Capital Reduction to write off accumulated business losses. The company will cancel 44,65,000 equity shares (95% of the total) on a pro-rata basis, reducing the paid-up share capital from ₹4.70 crore (47,00,000 shares) to ₹23.50 lakh (2,35,000 shares). This will set off ₹4.465 crore out of total accumulated losses of ₹5.35 crore. No money will be paid to shareholders for the cancelled shares, and since it is pro-rata, every shareholder's percentage ownership will remain unchanged. A similar proposal was rejected by shareholders at an earlier EGM on 12 March 2026, and this revised scheme will be put to vote again at an EGM on 24 April 2026. The Board also approved changing the company's name to 'Harmanshi Appliances Co. Limited' and appointed Mrs. Rakhi Sharma as an Independent Director.
This is effectively a balance sheet cleanup rather than a value-destroying event for shareholders — your percentage stake stays the same and no cash is being returned. However, it is a clear distress signal: the company has accumulated losses nearly wiping out its share capital, and the earlier shareholder rejection shows there may be dissent. The name change to an appliances company also hints at a possible business pivot, which could be positive or negative depending on execution.