Akashdeep Metal's board approves 1:5 stock split

13 Dec 2022 , 10:53 AM

Akashdeep Metal Industries mentioned in an exchange filing that the board has approved a stock split in the ratio of 1:5 i.e., existing 1 equity share of the Company having a face value of Rs10 each fully paid-up will be sub-divided into 5 equity shares having a face value of Rs2 each fully paid-up.

The company stated that the stock split is to encourage the participation of small investors by making it more affordable & consequently enhancing the liquidity of the company’s equity shares.

Following the stock split, the company will have 5,25,13,105 shares as against the existing 1,05,02,621 shares.

The transaction will be completed in approximately 2-3 months from the date of receipt of approval from the shareholders of the company.

At around 10.52 AM, Akashdeep Metal share was quoted at Rs126.60, up by 0.56% against previous close of Rs125.90 on NSE. The counter hit an intraday high and low of Rs129.65 and Rs125 respectively.

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