The decision has been made at an extraordinary general meeting which eventually intends to reduce the accumulated losses of the company.
According to a previous statement issued by the company, the amount of reduction of the stated capital is 618.46 million rupees and the new stated capital is 2.88 billion rupees.
"The number of ordinary shares in issue would remain unchanged." the company said in a stock exchange filing released in January.
Why would shareholders agree to this, wont there shareholding value decrease ? can someone explain have not been following soft