Outcome of the Board Meeting held on Thursday, 02nd April, 2026
Awaiting price reaction for this filing.
The board approved a stock split in the ratio of 10:1, subdividing each equity share of face value Rs. 10 into 10 shares of face value Re. 1, aimed at improving liquidity and making shares affordable to retail investors. The board also approved a rights issue of equity shares of up to Rs. 50 Crore on a rights basis to existing shareholders, with terms to be decided later. Authorized share capital was proposed to be increased from Rs. 20 Crore to Rs. 35 Crore. Other key approvals include the incorporation of a wholly owned subsidiary in the UAE, expansion of the company's objects clause to include agro/food products, enhancement of borrowing and investment limits up to Rs. 500 Crores each, adoption of new MOA and AOA, and appointment of Ms. Niyati Lad as Company Secretary. An EGM has been scheduled for April 30, 2026 to seek shareholder approval, while Independent Director Ms. Aakansha Vaid has resigned due to professional commitments.
The 10:1 stock split should improve trading liquidity and broaden retail participation, though the price will adjust proportionally. The proposed Rs. 50 Crore rights issue will lead to equity dilution for existing shareholders, while the diversification into agro/food products signals a strategic shift beyond the core bearings business.