Board approves five-way share split to Rs 1 face value
STYLAMIND · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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The board approved splitting every existing fully paid share of Rs 5 into five shares of Rs 1 each. Paid-up shares will rise from 16,948,060 to 84,740,300. The split requires shareholder approval by postal ballot and regulatory approvals. The record date will be decided later. The company aims to improve liquidity and small-investor participation.
The five-way split may improve liquidity and attract small investors. The market price normally adjusts proportionately, so shareholder value is unchanged.