Regis Inds soars after board OKs 1:10 stock split proposal

Regis Industries zoomed 11.96% to Rs 169 after the company announced that its board had approved the proposal of sub- division of 1 equity share of face value of Rs 10 each into 10 equity shares of face value of Re 1 each.

The stock-split proposal is subject to the approval of the shareholders of the company.

This move will increase the authorized share capital from 2 crore shares to 20 crore shares. Similarly, the paid-up and subscribed capital will increase from 1.72 crore shares to 17.20 crore shares.

The company expects to complete this corporate action within 3 months from date of receipt of approval from shareholders and subject to completion of the statutory requirements.

 

Regis Industries is a non-banking financial company (NBFC). It mainly deals in investment in shares & securities.

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