Capital reduction of Pondy Oxides

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.