Intimation of Approval of Board of Stock Split/Sub Division of shares of Fynx Capital Limited
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Fynx Capital Ltd's board has approved a sub-division/split of equity shares, subject to shareholder and regulatory approvals. Each existing equity share of face value Rs. 10 will be split into 10 equity shares of face value Rs. 1 each (a 1:10 split). The company's authorized capital of Rs. 25 crore and paid-up capital of Rs. 20 crore will remain unchanged in rupee terms, while the number of shares will multiply tenfold. The rationale is to broaden the shareholder base, improve liquidity, and make shares more affordable for retail investors. The process is expected to be completed within 3 months of receiving members' approval at an Extra Ordinary General Meeting.
If approved, the number of outstanding shares will increase tenfold while the share price is expected to adjust downward proportionally, making the stock more accessible to small investors and potentially improving liquidity. No change in the company's overall market capitalisation or the value of existing shareholdings.