Board approved adoption of amendments to MoA & AoA, subject to approval of Shareholders of the company and other statutory authorities.
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The Board of Directors of Narmada Macplast Drip Irrigation Systems met on 28th July 2025 and approved three key corporate actions, subject to shareholder approval. First, the company will adopt a new set of Memorandum and Articles of Association aligned with the Companies Act, 2013, replacing the older 1956-era documents. Second, a bonus issue in the ratio of 1:1 was approved, meaning one bonus share for every one share held, amounting to 36,23,000 equity shares valued at Rs. 3.62 crore, to be funded from free reserves of Rs. 4.10 crore as on 31st March 2025. Third, a stock split was approved where each equity share of Rs. 10 face value will be subdivided into 5 equity shares of Rs. 2 face value. The authorized share capital will also be increased from Rs. 5 crore to Rs. 10 crore to accommodate these changes. Record date for eligibility will be communicated later.
Eligible shareholders will see their shareholding double via the 1:1 bonus and then each share will be split into 5, making shares more affordable and improving liquidity. Both actions combined will significantly increase the total share count, which usually attracts more retail participation but does not change the underlying value of one's investment.