Sankhya Infotech Ltd to consider capital reduction, preferential issue

A meeting of the Board of Directors of Sankhya Infotech Ltd is scheduled on 21/12/2022, to consider and approve the extinguishment of entire share capital held by (erstwhile) promoter and promoter group without any payout.

The board will consider reduction / cancellation of 95% share capital held by public shareholders without payment of any consideration.

The board will consider allotment of 48,00,000 (Forty-eight Lakh) equity shares of INR 10/- (Rupees Ten) each to Resolution applicant against the funds infused by him in the Company and allotment of 2,00,000 (Two Lakh) equity shares of INR 10/- (Rupees Ten) each to Secured financial creditors on preferential basis.

The board will also consider allotment of 16 (Sixteen) equity shares of INR 10 (Ten) each for every 1 (One) Equity share held M/s Gwebitsol Private Limited ('Transferor Company') pursuant to merger of transferor company with M/s Sankhya Infotech Limited and allotment of 30,00,000 (Thirty Lakh) equity shares of INR 10 (Ten) each on preferential basis to identified shareholders.

Shares of SANKHYA INFOTECH LTD. was last trading in BSE at Rs. 7.54 as compared to the previous close of Rs. 7.60. The total number of shares traded during the day was 25468 in over 135 trades.

The stock hit an intraday high of Rs. 7.85 and intraday low of 7.51. The net turnover during the day was Rs. 195195.00.

Source : Equity Bulls

Keywords

SANKHYAINFOTECH INE877A01013 CapitalReduction PreferentialIssue FundRaising Merger