Board recommended Sub Division / Stock Split
Price
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The Board of Directors of Narmada Macplast Drip Irrigation Systems Ltd has approved two major corporate actions, subject to shareholder approval. First, a stock split where every 1 equity share of face value Rs. 10 will be subdivided into 5 equity shares of face value Rs. 2 each. Second, a bonus issue in the ratio of 1:1, meaning 1 bonus share for every 1 existing share, totaling 36,23,000 new equity shares worth Rs. 3.62 crore to be issued out of free reserves of Rs. 4.10 crore. The company is also increasing its authorized share capital from Rs. 5 crore to Rs. 10 crore to accommodate these changes. The record date for determining eligible shareholders will be communicated later. These actions are expected to be completed within approximately 2 months from shareholder approval.
For shareholders, both actions are positive — the 1:5 stock split makes shares more affordable and improves liquidity, while the 1:1 bonus issue effectively doubles their shareholding. The total share count will increase from 72.46 lakh shares to 3.62 crore shares post both actions, though the company's market cap and each shareholder's proportional ownership remain unchanged. Short-term price adjustment is expected post-ex-date, but no fundamental value change.