Avantel Limited approves stock split

The Board of Directors of Avantel Limited at their meeting held on Friday, June 23, 2023, has approved for Sub-division/split of existing Equity Shares of the Company from 1 (One) Equity Share having face value of Rs.10/- (Rupees Ten only) each fully paid-up, into 5 (Five) Equity Shares having face value of Rs.2/- (Rupees Two only) each fully paid-up, subject to the approval of Equity Shareholders of the Company through Postal Ballot. The Record Date for sub-division/split of existing Equity Shares shall be decided after taking the aforesaid approval of the Equity Shareholders of the Company.

The board approved for Alteration of the Capital Clause (Clause V) of the Memorandum of Association of the Company on account of aforesaid sub-division/split of existing Equity Shares by replacing the Capital Clause (V)) as "The Authorised Share Capital of the Company is Rs.20,00,00,000/- (Rupees Twenty Crores Only) divided into 10,00,00,000 (Ten Crores) Equity Shares of Rs.2/- (Rupees Two Only) each." subject to the approval of Equity Shareholders through Postal Ballot.

Shares of AVANTEL LTD. was last trading in BSE at Rs. 700.05 as compared to the previous close of Rs. 688.60. The total number of shares traded during the day was 56817 in over 1950 trades.

The stock hit an intraday high of Rs. 710.00 and intraday low of 670.05. The net turnover during the day was Rs. 39537876.00.

Source : Equity Bulls

Keywords

AVANTEL INE005B01019 SubDivision StockSplit 5For1