Sikozy Realtors fixes record date for equity share capital reduction
Sikozy Realtors Ltd has fixed July 22, 2026, as the record date for reducing its equity share capital by cancelling 4,01,24,700 shares. The reduction, sanctioned by the NCLT and registered by the ROC, will lower paid-up capital from ₹4,45,83,000 to ₹44,58,300 to offset accumulated losses of ₹4,01,24,700. Shareholder percentages remain unchanged, and fractional entitlements will be sold by an appointed person.
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Sikozy Realtors Ltd has fixed Wednesday, July 22, 2026, as the record date for the reduction of its equity share capital, a move aimed at writing off accumulated losses to improve the company's financial position. The Board of Directors approved the record date pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The scheme, sanctioned by the National Company Law Tribunal (NCLT), Mumbai Bench-I, and registered by the Registrar of Companies (ROC), will see the cancellation of 4,01,24,700 equity shares.
The reduction will decrease the company's paid-up equity share capital from ₹4,45,83,000, comprising 4,45,83,000 equity shares of ₹1 each, to ₹44,58,300, divided into 44,58,300 equity shares of ₹1 each. The capital reduction amount of ₹4,01,24,700 will be utilized to set off a portion of the total accumulated losses, which stood at ₹6,03,74,113 as per the audited financials for the year ended March 31, 2024. This restructuring is intended to clean the company's books and present a realistic view of its balance sheet.
Scheme Details and Approvals
The Hon'ble NCLT passed an order on June 18, 2026, under Section 66 of the Companies Act, 2013, sanctioning the Scheme of Arrangement. Subsequently, the ROC issued a Certificate of Registration of the NCLT Order and the approved Form of Minutes on July 2, 2026, following the successful filing of Form INC-28 on June 26, 2026. The scheme became effective upon this registration.
The Board has appointed Mrs. Manisha Mangesh Kesarkar as the ‘Appropriate Person’ to handle fractional entitlements. As no fractional shares will be issued to shareholders, any fractional entitlements arising from the reduction process will be aggregated. The designated person will sell these consolidated shares in the open market and distribute the net proceeds proportionally to eligible shareholders after deducting applicable expenses and taxes.
Capital Structure Impact
The following table outlines the changes to the company's capital structure:
| Particulars | Pre-Reduction | Post-Reduction |
|---|---|---|
| Number of Equity Shares | 4,45,83,000 | 44,58,300 |
| Paid-up Capital (₹) | 4,45,83,000 | 44,58,300 |
| Face Value (₹) | 1 | 1 |
The reduction is on a proportionate basis, meaning the percentage shareholding of any shareholder will remain unchanged. The company stated that the scheme does not involve any conveyance or transfer of property and will not adversely impact creditors, banks, or employees. The listing of the revised equity shares will continue on the BSE.
What strategic initiatives will Sikozy Realtors pursue to eliminate the remaining accumulated losses of approximately ₹2 crore?
How will the significant reduction in equity base impact the liquidity and trading volume of the company's shares on the BSE?
Does the company plan to raise fresh capital now that the balance sheet has been restructured to present a cleaner financial position?
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