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This is an archive article published on September 26, 2011
Munjal Auto board OK8217;s stock split plan
Munjal Auto said its board has approved a proposal to split its equity share in the ratio of 1:5.
Munjal Auto Industries today said its board has approved a proposal to split its equity share in the ratio of 1:5.
In filing to the BSE,the company said the board gave nod for 8220;sub-division of one equity share of the company having a face value of Rs 10 each fully paid up into five equity shares having a face value of Rs 2 each fully paid up8221;.
Besides,the board has also approved to increase the firm8217;s authorised share capital to Rs 25 crore from Rs 12.5 crore,it added.
Out of the Rs 25 crore share capital,Rs 20 crore shall be of equity share capital comprising of 10 crore equity shares of Rs 2 each and the balance Rs 5 crore will remain as 8220;unclassified capital8221;.
The company will seek shareholders8217; consent on the above two decisions through a postal ballot.
Besides,the company8217;s shareholders approved declaration of 75 per cent dividend,which is Rs 7.50 per share of Rs 10,for the year ended on March 31,2011,it said.
The shares of the company closed 3.43 per cent down at Rs 163.10 a piece on the BSE.
Company INFO More on Munjal Auto Industries
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