The Board considered & approved the Sub-division of 1 Equity Share of face value Rs. 10/- each fully paid-up into 5 equity shares of face value of Rs. 2/- each fully paid up, held by the ....
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The Board of Directors of F Mec International Financial Services Ltd has approved a sub-division of equity shares in the ratio of 1:5, splitting each equity share of face value ₹10 into 5 equity shares of face value ₹2. Additionally, the Board approved a bonus issue in the ratio of 1:10, meaning 1 bonus share of ₹2 for every 10 shares held, post-split, to be issued out of the Securities Premium Account. The Board also approved raising funds up to ₹5 crore through secured, unlisted, non-convertible debentures (NCDs) on a private placement basis, carrying a 16% annual coupon with an 18-month tenure. Paid-up shares will increase from 88,91,768 (₹10 face value) to 4,89,04,724 (₹2 face value) after the split and bonus. An Extraordinary General Meeting has been scheduled for May 4, 2026, to seek shareholder approval for these actions, with the corporate actions expected to be completed by June 2, 2026.
The stock split makes shares more affordable and improves liquidity, potentially attracting retail investors. The 1:10 bonus issue rewards existing shareholders with free shares. The NCD issuance at a 16% coupon indicates the company is raising debt at a relatively high cost, which may reflect its current risk profile. Overall, these are positive corporate actions for shareholders, subject to EGM approval.