NB Footwear Limited board approved a share capital reduction of ₹12.15 crore and permission to raise up to ₹50 crore through convertible loans during its meeting on September 7, 2026.

The company also resolved to shift its registered office from Tamil Nadu to West Bengal, subject to shareholder approval at the forthcoming Annual General Meeting (AGM).

Capital Restructuring

The board proposed reducing the equity share capital from ₹13.50 crore to ₹1.35 crore. This involves cancelling 1.215 crore equity shares of ₹10 each.

The reduction aims to adjust against accumulated losses standing at ₹12.15 crore as per the audited balance sheet dated March 31, 2026. The adjustment will be made on a proportionate basis, ensuring existing shareholders retain their relative ownership stakes post-reduction.

Funding Strategy

The board authorized borrowing up to ₹50 crore from individuals or entities. These loans are structured as convertible instruments, allowing lenders the option to convert debt into equity shares at a later date.

Terms and conditions for these borrowings will be determined by the board as required by the company’s operational needs.

Corporate Governance

All resolutions require final approval from shareholders at the upcoming AGM. The shift in registered office will necessitate consequential amendments to the Memorandum of Association.

NB Footwear Limited's board has approved the proposal to shift its registered office from Chennai to Kolkata and Noida, subject to shareholder and statutory approvals. The decision was taken during a board meeting held on June 20, 2026, at 3 PM at the company's existing registered office. The relocation aims to move the registered office from Chennai, Tamil Nadu, to Noida, West Bengal, pending necessary consent.

The directors approved shifting the registered office from II Flr 3A, MGR Street, Thanthai Periyar Nagar, TTTI Taramani, Chennai 600113, to SP no 50/51, 1st Floor, Jodhpur Gardens, Ward no3, Kolkata-700045. Additionally, the board approved establishing a corporate office at the Kolkata address, which will serve as the corporate office until the registered office shift is approved by the relevant authorities.

Another key approval was the relocation of the company's books of account to the proposed corporate office in Kolkata. The board also discussed any other business with the permission of the chair. The outcome was communicated to BSE Limited pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The following table outlines the key proposals approved during the meeting:

The company secretary, Subramaniam Krishnan, signed the communication regarding the meeting outcome. The decisions taken will require shareholder and statutory approvals to take effect.