Smartworks Coworking Reduces Share Capital by ₹385.6 Cr
Smartworks Coworking Spaces Ltd announced a significant corporate action following a Board of Directors meeting on August 24, 2026. The company plans to reduce its share capital by utilizing ₹385.61 crore from its Securities Premium Account to fully offset accumulated losses of ₹385.61 crore as of March 31, 2026. This move aims to present a true and fair financial view without altering the issued share capital, number of shares, or shareholder percentages. The proposal requires member approval via a special resolution and sanction from the National Company Law Tribunal. Additionally, the Board recommended the appointment of Mr. Dilip Deshmukh and Mr. Rajeev Krishnamuralilal Agarwal as Non-Executive Independent Directors for a five-year term.
Key Highlights
- Share capital reduction of ₹385.61 crore to offset accumulated losses.
- Utilizes Securities Premium Account balance for loss write-off.
- No change in issued capital, share count, or shareholder percentages.
- Appointment of two Non-Executive Independent Directors recommended.
- Requires member and NCLT approval for capital reduction.
Price Impact
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