Capital reduction approved by the board of directors of Pondy Oxides & Chemicals will take effect from Thursday on the bourses. The board of POCL Enterprises will allot one equity share of ₹10 each of its company for every two shares of ₹10 each held in Pondy Oxides. After that, the board of Pondy Oxides will cancel one equity share in its company for every one share allotted by POCL Enterprises. Following this, the paid-up capital of Pondy Oxides will be reduced accordingly.
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.