Talwalkars Better Value Fitness Approves Share Capital Reduction

Talwalkars Better Value Fitness Ltd's Board of Directors has approved a significant reduction in share capital, as per orders from the NCLT and NCLAT. This involves the cancellation and extinguishment of 1,01,98,415 equity shares held by pre-liquidation promoters and promoter group, and 2,08,06,441 equity shares held by pre-liquidation public shareholders. Following this, the company will issue 5,00,000 new equity shares to eligible existing public shareholders and 95,00,000 new equity shares to the nominee of the successful bidder on a preferential basis. These actions are subject to necessary approvals.