Techtextil Frankfurt 2024: Connect With The Trützschler Group textileworld.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from textileworld.com Daily Mail and Mail on Sunday newspapers.
Trützschler Card Clothing (TCC): A 20-Year Success Story textileworld.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from textileworld.com Daily Mail and Mail on Sunday newspapers.
Trützschler Card Clothing Z-Wire: Outstanding Web Forming At High Speeds textileworld.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from textileworld.com Daily Mail and Mail on Sunday newspapers.
The company, which makes card clothing and card room accessories for textile carding machines and has a market value of ₹162 crore, announced its issued paid-up capital will be cut from from 5.94 million shares of ₹10 each to 29,705 shares of ₹2,000 each to save overhead and administrative costs . Fractional shares that cannot be combined to form whole shares will be cancelled, and shareholders will receive compensation equivalent to the fair value, it said.
An interesting notice was brought to my attention last week. It is a disclosure by Indian Card Clothing about its proposal to reduce the number of shareholders by implementing what is known as a ‘reverse split’ but has been referred to as a consolidation exercise by raising the nominal value or face value from Rs10 to a hefty Rs2,000 each.