Intimation of approval of shareholders for amendment in MOA - AOA, Increase in Authorised Share Capital
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Awaiting price reaction for this filing.
At the 33rd Annual General Meeting held on 30 September 2025, shareholders of Narmada Macplast Drip Irrigation Systems approved three major corporate actions. First, the company will issue bonus shares in the ratio of 1:1, meaning one bonus equity share for every one share held. Second, equity shares will be subdivided from a face value of Rs 10 to Rs 2, effectively splitting each share into 5 shares. Third, the authorised share capital is being increased from Rs 5 crore to Rs 10 crore to accommodate these actions. The record date for the bonus issue will be announced later. The amended MOA and AOA, aligned with the Companies Act 2013, were also adopted.
This is a shareholder-friendly combination of corporate actions. The 1:1 bonus doubles the share count for eligible shareholders (those holding shares before the record date), while the stock split reduces the per-share price, likely improving liquidity and retail participation. Total shareholder value remains unchanged on a combined basis, and investors should watch for the upcoming record date announcement to ensure eligibility.