With a market valuation of Rs. 49.87 Crore, Maxheights Infrastructure Limited is a small-cap company that operates in the Consumer Discretionary Goods and Services (CDGS) industry. The organization has spent the last three decades working in the real estate industry. The board of directors of the company has announced a 1:5 stock split, which market observers may take note of.
The company said in a stock exchange filing today that “Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, you are hereby informed that a meeting of the Board of Directors of Max Heights Infrastructure Limited ( the ‘Company’) will be held today i.e. Tuesday, December 06, 2022 at 03:30 PM at the Registered Office of the Company, SD-65, Tower Apartment, Pitampura, New Delhi-110034 and concluded at 6:45 PM, HAS CONSIDERED AND APPROVED THE FOLLOWING MATTERS:- 1. To consider sub-division/split of the Equity Shares of the Company from the existing 1 (one) Equity Share of face value of Rs.10/- (Rupees Ten only) each Fully paid up equity shares of Rs.5 (five) each.As per section 61(1)(d) of the Companies Act, 2013 Members of the company as per section 61(1)(d) of the Companies Act, 2013 2/- (Rupees Two only) has been paid in accordance with the rules made subject to the approval of other authorities. Necessary.”
Citing the rationale behind the split, the company said it was “to encourage wider participation of retail investors by making the equity shares more affordable for them and to enhance the liquidity of the equity shares of the company in the stock market.” the company has said. The expected time of completion of the stock split objective is on or before March 31, 2023.
Details of share capital structure and number of equity shares before and after the split of Maxheights Infrastructure
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Max Heights Infrastructure Ltd. shares today touched a fresh 52-week high closed at 35.25 31.95. The stock recorded a total volume of 23,757 shares as compared to 20-day average volume of 15,035 shares. The stock has given multibagger return of 159.76% during last year, and has appreciated 83.09% in YTD, 2022. The stock has achieved multibagger return of 148.44% and multibagger return of 102.86% in last six months. during the last month. For the quarter ending September 2022 or Q2FY23, the company reported promoter shareholding of 52.78% and public shareholding of 47.22%. The stock touched a 52-week low 11.75 as on (02/06/2022), indicating that the stock is trading up 171.91% from its 1-year low at the current market price.
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