NB Footwear Approves ₹50 Crore Convertible Borrowing And Capital Reduction

Subject to AGM approval, NB Footwear will reduce share capital from Rs.13.5 crore to Rs.1.35 crore to write off Rs.12.15 crore accumulated losses. The Board also approved up to Rs.50 crore in loans convertible into equity at lenders’ option and proposed shifting its registered office to West Bengal.