Amendment in MOA & AOA subject to approval of shareholders
ALGOQUANT · price
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Algoquant Fintech's board has approved four major corporate actions, all subject to shareholder approval via postal ballot. The authorised share capital will be raised from Rs. 3.5 crore to Rs. 30 crore to accommodate new shares. The company will split each equity share of face value Rs. 2 into two shares of Rs. 1 each, aiming to improve liquidity and retail participation. Following the split, it will issue bonus shares in an 8:1 ratio (8 new shares for every 1 held), issuing around 24.98 crore new shares worth Rs. 24.99 crore by capitalising free reserves (free reserves stood at Rs. 98.67 crore as of March 31, 2025). The Articles of Association are also being amended to explicitly allow bonus share issuances.
Shareholders will see a 9x increase in share count (2x from split, then 8x from bonus) but no change in overall value. This typically makes the stock more affordable for retail investors and boosts liquidity, though the share price will adjust downward proportionally on the ex-date.