Output of the Board Meeting
Price
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The board, meeting on February 17, 2026, approved sub-dividing each equity share from a face value of ₹10 to ₹5 (1 share becomes 2). It also approved a bonus issue in a 3:1 ratio at the new ₹5 face value, meaning 3 bonus shares for every 1 share held — totalling 62,34,948 new shares to be issued from free reserves of ₹311.75 lacs (out of ₹557.03 lacs available as on March 31, 2025). Combined, every existing share effectively becomes 4 shares. Additionally, Mr. Harinderpal Singh Sodhi and Mr. Deepak Kumar were redesignated as Joint Managing Directors and KMPs for a 5-year term (Feb 17, 2026 to Feb 16, 2031), subject to shareholder approval. The authorised persons for determining materiality of events were also updated. Both the split and bonus need shareholder approval; record dates will be announced later, with completion targeted within 2 months.
The stock split and bonus are intended to boost liquidity and broaden retail participation, which is generally viewed positively by small investors. However, no real value is created — the share price adjusts downward proportionally, so total holdings remain unchanged in value.