The company, which makes card clothing and card room accessories for textile carding machines and has a market value of ₹162 crore, announced its issued paid-up capital will be cut from from 5.94 million shares of ₹10 each to 29,705 shares of ₹2,000 each to save ‘overhead and administrative costs’. Fractional shares that cannot be combined to form whole shares will be cancelled, and shareholders will receive compensation equivalent to the fair value, it said.
| Subscribe To Our Free Newsletter |
