Announcement under Regulation 30 (LODR) - Raising of Funds
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Sprayking Ltd's board, meeting on June 10, 2025, approved three major capital structure changes. First, a stock split where each equity share of face value Rs. 2 will be subdivided into two shares of Rs. 1 each, doubling the share count (existing 10.57 crore shares of Rs. 2 will become about 21.13 crore shares of Re. 1). Second, the authorised share capital will be raised from Rs. 22 crore to Rs. 66 crore to accommodate the new structure. Third, the company plans to raise up to Rs. 50 crore through a rights issue of equity shares to existing shareholders. The rationale stated for the split is to improve market liquidity, widen the shareholder base, and make shares more affordable. All three proposals require shareholder approval through a postal ballot, and the record date will be announced later.
The stock split will lower the per-share price and increase the number of shares, which usually improves liquidity and retail participation. The Rs. 50 crore rights issue will bring fresh capital into the company but will dilute existing shareholders' holdings unless they fully subscribe to their entitlement.