Trent surges on board nod for stock-split, fund raising plans

The board has approved stock split of equity shares of Rs 10/- each into ten shares of Re 1 each

Shares of Trent surged nearly 7% at Rs 1,792 on the Bombay Stock Exchange after the company said that the board, at its meeting held today, approved stock-split of equity shares having face value of Rs 10 each into ten equity shares of Re 1/- each.

The sub-division of equity shares is subject to approval of shareholders and statutory approvals, the company said in a release.

Meanwhile, the board also approved raising of capital through issue of non-convertible debentures on a private placement basis not exceeding Rs 300/- crore. The issue of NCDs is also subject to the approval of shareholders, the release added.

The stock opened at Rs 1690 and touched a high of Rs 1842. At 12:20pm, over 105,000 shares were traded on both the stock exchanges.