Latest news about Suncity Synthetics
Suncity Synthetics Shareholders Approve 98% Capital Reduction to Write Off Accumulated Losses Aug 05, 2025
Suncity Synthetics Limited's shareholders approved a capital reduction scheme at the 37th AGM. The plan reduces share capital by 98% to write off Rs 4.86 crore in accumulated losses. Paid-up capital will decrease from Rs 4.95 crore to Rs 9.89 lakh, with shareholders receiving 2 shares for every 100 held. The scheme passed with 87.32% votes in favor, despite opposition from public shareholders. The company aims to improve its financial position and ability to secure future financing. Implementation is subject to NCLT and regulatory approvals.