Pondy Oxides & Chemicals Limited has informed the Exchange regarding Outcome of Board Meeting held on May 26, 2026 where Board of Directors have inter-alia approved the following:- 1) Alteration of Capital of the Company by way of Sub-division/ Split of its existing equity share having face value of Rs. 5 each into equity share having face value Rs. 2 each; 2) Alteration in Capital Clause in Memorandum of Association (MoA) on account of Sub-division/ Split; 3) Appointment of Mr. Hemant Jawahar Lal (DIN: 11731104) as Additional Director in the capacity of Non-Executive Independent Director; 4) Approval of Postal Ballot Notice for the aforesaid matters; 5) Appointment of Mr. Ashish Bansal (DIN: 01543967), Managing Director as the Chairman and Managing Director of the Company.
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The board approved a stock split (sub-division) of existing equity shares from Rs. 5 face value to Rs. 2 face value in a 2-for-5 ratio (each Rs. 5 share becomes 2.5 shares of Rs. 2). The paid-up capital remains unchanged at Rs. 15.25 crore across 7.63 crore shares post-split. The rationale is to make shares more affordable and enhance liquidity for small investors. Mr. Hemant Jawahar Lal has been appointed as an Additional Non-Executive Independent Director for 5 years. Mr. Ashish Bansal, currently Managing Director, is elevated to also serve as Chairman of the Company, with terms unchanged. All three items (split, MoA amendment, and director appointments) are subject to shareholder approval via Postal Ballot and expected to complete within two months of that approval.
The stock split makes the stock more accessible to retail investors and could improve trading volume. The appointment of a new independent director and consolidation of Chairman + MD role under Mr. Bansal strengthens leadership governance. Shareholder approval is pending.