Outcome of the Board Meeting held on Tuesday, June 10,2025
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Sprayking Ltd's board, meeting on June 10, 2025, approved three major capital structure changes subject to shareholder approval via postal ballot. First, a stock split where every 1 equity share of face value Rs 2 will be split into 2 equity shares of face value Rs 1 each, aimed at improving liquidity and making shares more affordable. Second, the authorised share capital will be raised from Rs 22 crore to Rs 66 crore (post-split). Third, the company plans to raise up to Rs 50 crore through a rights issue to eligible shareholders. The record date for the stock split and rights issue will be announced later. A scrutinizer has been appointed for the e-voting process.
The stock split should improve share liquidity and lower the per-share price, making it accessible to small investors. The Rs 50 crore rights issue will dilute existing shareholders but bring in fresh capital for growth, though the actual discount/pricing is yet to be disclosed.