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 NCLT and NCLAT orders. This includes the cancellation 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 reduction, the company will issue and allot 5,00,000 new equity shares to eligible existing public shareholders and 95,00,000 new equity shares on a preferential basis to the nominee of the successful bidder. These actions are subject to necessary approvals.