Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, this is to inform you that the Board of Directors ....
ELITECON · price
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The board of Elitecon International has recommended a stock split, sub-dividing each equity share of face value Rs. 10 into 10 shares of face value Re. 1. The authorized share capital stays at Rs. 300 crore but the share count rises to 300 crore shares, and paid-up capital remains at Rs. 159.85 crore spread across 159.85 crore shares. The rationale is to improve liquidity, widen the shareholder base, and make shares more affordable for small investors. An Extra-ordinary General Meeting (EGM) has been scheduled for June 02, 2025, with book closure from May 27 to June 02, 2025, and remote e-voting from May 30 to June 01, 2025. The board accepted the resignation of Company Secretary Mr. Azmal Raqueeb Khan and appointed Ms. Rajlaxmi Saini as the new Company Secretary & Compliance Officer. Additionally, the office where books of accounts are maintained has been shifted from Delhi to Nashik, Maharashtra. The MOA's Capital Clause will also be altered to reflect the new face value.
The stock split (1:10) will lower the per-share price, making the stock more accessible to retail investors and potentially boosting liquidity and trading volumes. Shareholders will automatically hold 10 times more shares with no change in total investment value. The Company Secretary change and office relocation are administrative and unlikely to materially affect the stock.