Board Meeting7 Sept 2026, 10:50 pm
NB Footwear to shift registered office to West Bengal, reduce share capital
AI Summary
NB Footwear Ltd announced its Board of Directors has approved the shifting of its registered office from Tamil Nadu to West Bengal. This move is subject to shareholder approval at the upcoming Annual General Meeting (AGM). Additionally, the Board approved a significant reduction in share capital, from ₹13.50 Crores to ₹1.35 Crores, to be adjusted against accumulated losses. The company also secured approval for potential borrowings up to ₹50 Crores, which may be convertible into equity.
Key Highlights
- Registered office to be shifted from Tamil Nadu to West Bengal.
- Share capital reduction approved from ₹13.50 Cr to ₹1.35 Cr.
- Accumulated losses of ₹12.15 Cr to be written off against capital reduction.
- Board approved potential borrowing of up to ₹50 Crores.
- All approvals are subject to the forthcoming Annual General Meeting.
Price Impact
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