After 435% rally in 1 year, KPI Green Energy announces stock split in 1:2 ratio
KPI Green Energy announces a stock split in the ratio 1:2 to enhance liquidity and make shares more affordable for small investors.
After jumping 435% in one year, the board of multibagger stock today announced a in the ratio 1:2, meaning that one equity share of the company will now be split into 2 .“The , inter alia, has considered, approved and recommended ordinary resolution through postal ballot for alteration of the capital of the Company by sub-division/split of existing equity share of the Company from One equity share having face value of Rs. 10/- (Rupees Ten only) each, fully paid-up, into 2 (Two) equity shares having face value of Rs. 5/- (Rupees Five only) each, fully paid-up,” the company said in a filing to exchanges.
The stock split is being done in order to enhance the of the company's equity shares and encourage the participation of small investors by making it more affordable, it said.
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The expected timeline for the completion of the activity will be approximately 3 months from the date of receipt of approval of the of the company.
The record date for the purpose of the subdivision of the equity shares would be decided after obtaining approval of the shareholders through postal ballot and will be intimated to the exchanges at a later date.
KPI Green had also informed the exchanges about its decision to raise funds through the issue of equity shares by way of earlier in May month.
The shares of were trading nearly 3% higher at Rs 1,935.75 around 12 noon today.
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Source: Stocks-Markets-Economic Times
