Stock split 2023: Shares of Sudev Industries Ltd will be in focus when the stock market opens on Monday (December 11, 2023). The board of directors of Sudev Industries Ltd has declared stock split in the ratio of 1:2 – from Rs10 per equity share to two ₹5 per equity share — for its eligible shareholders. Shares of the small cap company will trade ex-split on the record date of December 11.
“Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Company has fixed Monday, December 11, 2023 as the Record Date for the purpose of ascertaining the eligibility of the shareholders entitled for the purpose of subdivision/split of each Equity Share of the Company having Face Value of Rupees 10/- into two equity Shares of Face Value of Rupees 5/- each,” said the company in a stock exchange filing.
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The company’s Board had approved splitting of its equity shares at a meeting held in September last year.
Sudev Industries stock split details
In an exchange filing, Sudev Industries Ltd said: “This is to inform you that the Company in its Board Meeting dated August 31, 2022 had approved and recommended to the Shareholders to sub-divide (split) the nominal value of each Equity Share having of the face value of Rs. 10/- (Rupees Ten Only) each into 2 (Two) Equity Shares of the face value of Rs. 5/- (Rupee Five Only) each. The Company in its Shareholders Meeting dated September 30, 2022 approved splitting of the Company’s equity shares of ₹10/- each into two (2) equity shares of face value of Rs. 5/- each. The Board of Directors further fixed December 11, 2023 as record date for the above said purpose and intimated the same to Exchange on November 27, 2023.”
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Recently, Sudev Industries had informed the BSE that the name of the company has been changed to lIRM Holdings India Limited.
Sudev Industries, founded in 1992 by Rajiv Agarwal, operates in trading sector. The company has its manufacturing units at Sikandrabad, Uttar Pradesh to produce plastics, alkathene, natural and synthetic rubber moulded goods, foams.
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Published: 11 Dec 2023, 06:32 AM IST