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Supreme Petrochem sets record date in relation to Scheme of Reduction of Equity Share Capital of Company

The Share Capital of the company will reduce from over Rs940 crore to ~Rs37.61 crore, by reducing the face value of the equity shares of the Company from the existing Rs10/- per share to Rs4/- per share.

March 30, 2022 9:35 IST | India Infoline News Service
The Record Date has been fixed on April 8, 2022, for the purpose of giving effect to the Scheme of Reduction of Equity Share Capital of Supreme Petrochem Limited from Rs94,02,06,7101- to Rs37,60,82,684/-, by reducing the Face Value of the equity shares of the Company from existing Rs10/- per share to Rs4/- per share, pursuant to the Order of the National Company Law Tribunal, Mumbai Bench, Mumbai.

“The reduction of capital shall be on a proportionate basis, there shall not be any change in percentage shareholding of any shareholder of the Company, and hence, the shareholding pattern shall remain the same pre and post reduction of the equity share capital,” company said in a filing on Tuesday.

At around 9.38 am, Supreme Petrochem Ltd was trading at Rs990 per share down by Rs13.35 or 1.33% from its previous closing of Rs1,003.35 per share on the BSE.

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