Share split from Rs 10 to Rs 2 face value approved by shareholders

Board & Shareholder Meetings View source PDF

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AI summary

Indian Toners & Developers shareholders approved splitting each equity share of Rs 10 face value into 5 shares of Rs 2 face value via postal ballot. 99.99% voted in favor (72.5 lakh shares), 0.01% against. Paid-up capital stays at Rs 10.39 crore; total share count rises to 5.2 crore from 1.04 crore. Move aims to improve liquidity and attract small investors. Record date to be set by the Board.

Likely market impact

Each existing share becomes 5 shares of Rs 2. Market price will adjust proportionally. Record date will be announced by the Board.