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GDR Soft to change name

Our Bureau

HYDERABAD: GDR Software Ltd has informed the BSE that the members of the company board approved the change in the name of the company from GDR Software Ltd to Valuemart Info Technologies Ltd at the AGM held on August 5.

The company, while deciding to delist the shares from the Hyderabad and Bangalore exchanges, plans to reduce the paid-up share capital from Rs 15,06,72,000 to Rs 3,01,13,400 by reducing face value of the existing 1,50,67,200 equity shares of Rs 10 each to Rs 2 each.

This would mean the company would extinguish the remaining Rs 8 per share subject to approval of court. Further, the company has to alter the Capital Clause of the Memorandum of Association and Articles of Association.

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