Varvee Global approves stock split; face value to reduce from Rs 5 to Rs 2
VGL · price
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On the reaction day the stock moved 2.7 pts less than Nifty Microcap 250 and 3.8 pts less than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The Board of Varvee Global approved splitting each equity share of face value Rs 5 into shares of Rs 2 face value. Total paid-up capital stays at Rs 25.76 crore, but share count rises from about 5.15 crore to 12.88 crore. Aim is better liquidity and affordability for small investors. Subject to shareholder and regulatory approvals through postal ballot. Record date will be announced later.
Each share splits into 2.5 shares. Price per share will reduce proportionally, making shares more affordable and potentially boosting liquidity.