Key Decisions and Approvals

The Board meeting, held on Wednesday, June 10, 2026, from 5:00 PM to 5:30 PM, inter alia considered and approved the following matters:

1. Stock Sub-division: Approved sub-division of the face value of each equity share from ₹10 (Rupees Ten) to ₹5 (Rupees Five). Specifically, every one existing equity share of ₹10 face value (fully paid-up) will be subdivided into two equity shares of ₹5 face value (fully paid-up). This approval is subject to member (shareholder) approval.

2. Record Date: The record date for determining member entitlement to receive sub-divided shares will be announced separately in due course.

3. Memorandum Alteration: Approved consequential alteration of Capital Clause (Clause V) of the Memorandum of Association, subject to shareholder approval.

4. Scrutinizer Appointment: Approved appointment of PCS Rupal Patel as Scrutinizer for the postal ballot process.

5. Postal Ballot: Approved conducting a postal ballot to seek shareholder approval for:

  • Sub-division/split of equity shares
  • Alteration of Share Capital Clause (Clause V) of Memorandum of Association

6. Postal Ballot Documents: Approved the draft notice to shareholders and calendar of events for the proposed postal ballot. The notice and details will be intimated shortly.

Rationale for Stock Split

The disclosed rationale for the corporate action is to enhance liquidity of the company's equity shares and enable higher participation from public shareholders.

Timeline for Completion

The company expects to complete the sub-division process within 3 months from the date of Board approval (June 10, 2026), subject to obtaining necessary approvals.

Share Capital Impact (Pre and Post Split)

Details of authorized, paid-up, and subscribed share capital pre and post sub-division are provided in Annexure-I:

  • Authorized Share Capital:
  • Pre-split: 3,80,00,000 shares of ₹10 each → ₹38,00,00,000
  • Post-split: 7,60,00,000 shares of ₹5 each → ₹38,00,00,000 (unchanged)
  • Paid-up Share Capital:
  • Pre-split: 3,44,80,700 shares of ₹10 each → ₹34,48,07,000
  • Post-split: 6,89,61,400 shares of ₹5 each → ₹34,48,07,000 (unchanged)
  • Subscribed Share Capital:
  • Pre-split: 3,44,80,700 shares of ₹10 each → ₹34,48,07,000
  • Post-split: 6,89,61,400 shares of ₹5 each → ₹34,48,07,000 (unchanged)

Additional Information

  • The company has only one class of equity shares.
  • The disclosure is made in accordance with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.
  • Company CIN: L93000GJ1995PLC026244