Saregama India Limited board approves stock split

The Board of Directors of Saregama India Limited, at its Meeting held today, i.e. 24th February 2022, has considered and unanimously approved the sub-division (split) of 1 (one) Equity Share of the Company having a face value of Rs. 10/- each (fully paidup) to be sub-divided into 10 (Ten) Equity Shares of face value of Re. 1/- each (fully paid-up); and consequently, alteration of Capital Clause of the Memorandum of Association of the Company resulting from the said sub-division.

The board also approved the adoption of new Articles of Association of the Company to make them consistent and aligned with the provisions of the Companies Act, 2013, as amended and the Rules framed thereunder and the provisions of Secretarial Standard on Board and General Meetings.

The rationale behind the decision is to improve the liquidity of the Company's shares in the Stock market and to make it affordable to the small retail shareholders as also to broad base the small retail shareholders.

Shares of Saregama India Limited was last trading in BSE at Rs. 4068.80 as compared to the previous close of Rs. 4099.25. The total number of shares traded during the day was 341 in over 164 trades.

The stock hit an intraday high of Rs. 4241.00 and intraday low of 4050.00. The net turnover during the day was Rs. 1407482.00.

Source : Equity Bulls

Keywords

SaregamaIndia INE979A01017 StockSplit SubDivision