IOL Chemicals & Pharmaceuticals advanced 3.46% to Rs 424.60 after the company's board approved the sub-division / split of each equity share into five equity shares.
Accordingly, the face value of each share of the company will change to Rs 2, which is one-fifth of its present face value of Rs 10.
The company expects to complete the stock split proposal within a period of two months from the date of shareholders approval.
Offering rationale for the stock split proposal, IOL Chemicals said: The split of equity shares will make the shares more affordable, thereby increasing its attractiveness to a wider range of investors. This move is expected to potentially boost investor participation and improve liquidity in the market.
IOL Chemicals and Pharmaceuticals is a pharma API and speciality chemicals manufacturer.
The company's consolidated net profit declined 49.4% to Rs 19.15 crore on 3.6% increase in net sales to Rs 525.75 crore in Q2 FY25 over Q2 FY24.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app