Outcome of Board Meeting
Awaiting price reaction for this filing.
The board of Hindusthan Urban Infrastructure Limited has approved three major corporate actions, subject to shareholder and regulatory approvals. First, the company proposes to change its name to 'Hindusthan Insulators & Industries Limited' to better reflect its core business. Second, it has approved a stock split in the ratio of 1:5, where each equity share of Rs. 10 face value will be subdivided into 5 equity shares of Rs. 2 each, aimed at improving liquidity and making shares more affordable for retail investors. Post-split, the number of paid-up equity shares will rise from 14,42,885 to 72,14,425. Third, the authorised share capital will be increased from Rs. 100 crore to Rs. 108.5 crore. A postal ballot will be sent to shareholders for approval, and the split is expected to complete within 2 months of shareholder approval.
For shareholders, the stock split will multiply their share count by 5 (with a proportionally lower price per share) and the total value of their holding remains unchanged. The name change reflects a strategic repositioning towards the insulators business. The BSE levied a small fine of Rs. 8,000 plus GST for delayed shareholding pattern filing, which the board noted — this is minor and not financially material.