Satani Bearings Approves Rights Issue, Stock Split, UAE Subsidiary

The board of Satani Bearings approved a rights issue to raise up to Rs. 50 crore and a 1:10 stock split to enhance liquidity.
The board approved increasing authorized capital, raising borrowing limits to Rs. 500 crore, and altering the object clause to include agri-business.
The board approved incorporating a UAE subsidiary and accepted the resignation of an independent director.