NB Footwear Ltd has announced plans to shift its registered office from Tamil Nadu to West Bengal, pending shareholder approval at the upcoming annual general meeting.

Additionally, the company has approved a capital reduction to wipe out accumulated losses amounting to 12.15 Cr by reducing the total share capital from 13.50 Cr to 1.35 Cr on a proportionate basis.

The leadership has also secured approval to raise funds up to 50 Cr through loans convertible into equity shares, giving the company vital financial flexibility to support its future business operations and capital requirements.