Record date for sub-division of equity shares from face value of Rs. 10/- to Rs. 1/- pursuant to Base Resolution Plan ('BRP')
Awaiting price reaction for this filing.
Garodia Chemicals has fixed March 25, 2026 as the record date for sub-dividing its equity shares from a face value of Rs. 10 to Rs. 1, meaning each existing public shareholder's share will become 10 shares of Rs. 1 each. This sub-division is being carried out as part of a Base Resolution Plan approved by the National Company Law Tribunal (NCLT), Mumbai, under an order dated February 24, 2025. The move is linked to the reduction and reconstitution of public shareholding as the company emerges from the corporate insolvency resolution process. BSE scrip code is 530161. The company's Managing Director, Ravindra Subhash Salunkhe, has signed the disclosure.
This is a technical stock split (1:10 by face value) that should make the share price proportionally lower and improve liquidity, but it is happening as part of an NCLT-driven restructuring rather than a routine corporate action. Shareholders should track the broader resolution plan outcome, as the reconstitution of shareholding under the BRP may have a more material effect on their holdings than the split itself.