Board approves 1:10 stock split and conversion of 4.05 lakh warrants into equity shares

Board & Shareholder Meetings View source PDF

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AI summary

Tembo Global Industries' board approved a 1:10 stock split, sub-dividing each ₹10 equity share into 10 shares of ₹1 each, subject to EGM approval. The split aims to boost liquidity and make shares more affordable. The board also approved conversion of 4,05,000 warrants into equity shares at ₹285/share, allotted to MD Sanjay Patel and Smita Patel (2,02,500 each), bringing in ₹8.65 crores. Paid-up capital increased to ₹18.95 crores. 4,05,000 warrants remain pending conversion.

Likely market impact

Stock split may boost liquidity and retail participation. Warrant conversion causes minor dilution; remaining 4.05 lakh warrants pending may add future supply.