Board approves 1:10 stock split and promoter warrant conversion

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AI summary

Tembo Global Industries' board approved a 1:10 stock split, sub-dividing each Rs. 10 equity share into 10 shares of Re. 1 each, subject to shareholder approval at a forthcoming EGM. Rationale: to boost liquidity, trading volumes, and make shares more affordable. Total paid-up capital remains Rs. 18.54 crore. Separately, 4,05,000 convertible warrants were converted into equity shares at Rs. 285 each (Rs. 8.66 crore received), raising paid-up capital to Rs. 18.95 crore across 1,89,50,198 shares. Allottees are promoters Sanjay Patel and Smita Patel.

Likely market impact

Stock split should improve liquidity and lower per-share price, broadening investor access. Mild dilution from promoter warrant conversion.