Bansal Wire approves 1:5 stock split and board changes
BANSALWIRE · price
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On the reaction day the stock moved 1.1 pts more than Nifty Microcap 250 and 2.0 pts more than its Iron & Steel Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Bansal Wire Industries board approved sub-division of 1 equity share of Rs 5 face value into 5 equity shares of Rs 1 each, subject to shareholder approval. Rationale is to make shares more affordable and improve liquidity. Paid-up equity shares will go from about 15.66 crore (Rs 5 each) to around 78.28 crore (Rs 1 each). Board also appointed Ramesh Kumar Choubey as Independent Director for 5 years and accepted the resignation of Sunita Bindal. 41st AGM is fixed for September 17, 2026. Record date will be announced after shareholder approval.
Stock split typically improves liquidity and retail participation; pending shareholder and regulatory approvals, share price will adjust lower post-split.