Xerox India is the Indian subsidiary of Xerox Corporation, based in Gurgaon, India the American printer, photocopier, document supplies, technology & services company. Xerox is a print technology and intelligent work solutions leader focused on helping people communicate and work better. They have expertise in Imaging and Printing, Data analytics, and the development of secure and automated solutions to help our customers improve productivity and increase client satisfaction. The primary offerings span three main areas: Managed Document Services, Workplace Solutions, and Graphic Communications. Managed Document Services: The Managed Document Services offerings help customers (ranging from small businesses to global enterprises) optimize their printing and related document workflow and business processes. Xerox led the establishment of this expanding market and continues as the industry leader. Workplace Solutions, and Graphic Communications: Their Workplace Solutions and Graphic Communications products and solutions support the work processes for their customers by providing them with efficient and cost-effective printing and workflow solutions. Products of the Xerox: (i) Desktop Printers (ii) Office Printers (iii) Multifunction (iv) ConnectKey Technology (v) Scanners (vi) Office Software (vii) Small and Medium Business (viii) App Gallery Customer Base of Xerox
Geographically, Xerox Unlisted Shares footprint spans approximately 160 countries which allows them to deliver technology and solutions to customers of all sizes, regardless of complexity or number of customer locations. They have a broad and diverse customer base by geography and industry, ranging from small and midsize businesses (SMBs) to creative and print production companies, governmental and public entities, and large corporations. XIL operations covers India and five South Asian countries – Bangladesh, Sri Lanka, Nepal, Maldives, Bhutan.
The Services of Xerox includes a continuum of solutions and services that helps the customers to optimize their print and communications infrastructure, apply automation and simplification to maximize productivity, and ensure the highest levels of security.
Cancellation of Xerox Shares held by public/non-promoter at INR 74.10 per share a) Date of Board Meeting: The Board of Directors of the company met on 22.09.2022. b) Decision Made: The Board unanimously approved a proposal to reduce the company's issued, subscribed, and paid-up equity share capital. c) Share Reduction Details: The reduction will involve cancelling and extinguishing up to 1,496,973 fully paid-up equity shares, which is approximately 3.34% of the total issued, subscribed, and paid-up share capital. These shares are held by public/non-promoter shareholders. d) Reason for Reduction: The purpose behind this reduction is: (i) To act in the interest of the public/non-promoter shareholders. (ii) To offer liquidity to shares that were otherwise illiquid. (iii) To gain operational and administrative flexibilities for the company. e) Payment per Share: Shareholders will be compensated at Rs. 74.10 for each equity share that is cancelled. f) Shareholders' Approval: The proposal for capital reduction was approved by the company's shareholders through a Special Resolution passed on 9th November 2022 via a Postal Ballot. The results of this vote were declared on 11th November 2022. The company has filed an application with the Chandigarh Bench of the National Company Law Tribunal (NCLT) to officially reduce the capital. This application is currently being processed by the NCLT.
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