I saw that a company's Equity Share Capital is reducing from few years. Though Reserve was going up so Book Value was going up overall but I wanted to know the reason.
I read that reduction of Equity Share Capital is called - Capital Reduction.
This can happen through Cancellation of share and share repurchase. This will reduce the shares of the company. It will change the capital structure of the company. and it can increase shareholder value. For more, you can Google or use the links below. :)