The market capitalization of the small cap company Square Four Projects India Limited was 14.72 crores. on Friday. The business of the organization is real estate. The corporation issued a stock split, i.e. 2 equity shares of Rs. 5/- each in lieu of the existing holding of 1 Equity Share of Rs. 10/- each to its eligible shareholders during the Board meeting on Friday.
“The Board of Directors of the Company has resolved to split the face value of the Equity Shares of the Company from Rs. 10/- each to Rs. 5/- each and for which approval of the shareholders of the Company shall be obtained through postal ballot process. The decision was taken,” Square Four Projects India said in a stock exchange filing.
Citing the rationale behind the stock split, Square Four Projects India informed the stock exchanges that “the management intends to increase the liquidity in the market and facilitate greater public participation to participate in the company’s shares and growth by increasing the number of shareholders.” basis, it is proposed to reduce the face value of one equity share of the Company from Rs.10/- (Ten) each to Rs.5/- (Five) each.”
The expected time of completion has been fixed by the end of June, 2023 and Mr. A.K. Profit, a practicing Company Secretary has been appointed as the Scrutinizer.
The firm reported nil revenue for Q3FY23, and its revenue has been nil since FY21–22. The net expenses of the company were 0.06 crore, while EBITDA was (-0.06 crore). During Q3FY23, Square Four Projects reported a consolidated net loss (-0.06 crore) and equity capital of 9.81 crores.
On Friday, the shares of Square Four Projects India closed at the upper circuit limit of 5% on BSE. 15.01 Each level. The stock recorded a total volume of 888 shares and a delivery volume of 100%. As per the chart pattern, the stock is reaching its upper circuit range since March 21. The stock has declined 2.53% in last 1 year and on YTD basis, it is up 86.92% in 2023 so far. Stock touched 52-week high 20.85 (16/05/2022) and at 52-week low 8.01 on (26/12/2022), it signifies that at the current market price, the stock is trading 28% down from 1 year high and 87.39% up from 1 year low. The corporation reported promoter shareholding of 74.63% and public shareholding of 25.37% for the quarter ending December 2022 or Q3FY23.
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