Bansal Wire Industries Announces Director Appointment, Share Split, and Capital Structure Alteration
Bansal Wire Industries Limited, a manufacturer of steel wires, announced several significant corporate governance decisions and capital restructuring measures following its Board meeting held on August 12, 2026. The outcomes include the appointment of a new director, the acceptance of a resignation, and the approval of a major share sub-division.The Board approved the appointment of Shri Ramesh Kumar Choubey as an Additional Director (NonExecutive, Independent) for the company. This appointment is subject to subsequent shareholder approval. Shri Choubey brings over 33 years of experience in public administration, having retired as the Chief Commissioner of Income Tax (IRS). His professional background includes roles at the Indira Gandhi National Centre for the Arts and the National Academy of Direct Taxes. He currently serves as an Independent Director of J. Kumar Infraprojects Limited.
Concurrently, the Board accepted the resignation of Smt. Sunita Bindal, who has served as an Independent Director of the Company. Her resignation, effective from the close of business hours on August 12, 2026, was due to personal and professional commitments. The Board expressed appreciation for her valuable contributions during her tenure.
Share Sub-division Details
A key outcome of the meeting was the consideration and approval of a sub-division or split of the company’s equity shares. This decision aims to make the Company's equity shares more affordable and improve their liquidity, thereby facilitating greater participation by investors.The Board approved the splitting of one existing equity share, which had a face value of Rs 5, into five new equity shares, each having a face value of Rs 1.
The company’s Memorandum of Association was altered to reflect this change in capital structure. The authorized share capital is now set at Rs 90,00,00,000 (Rupees Ninety Crore only). This capital comprises Equity Shares and Preference Shares:
| Capital Component | Authorized Amount | Total Shares Issued |
|---|---|---|
| Equity Shares | Rs 89,00,00,000 | 89,00,00,000 (Rs 1/- each) |
| Preference Shares | Rs 1,00,00,000 | 10,00,000 (Rs 10/- each) |
The company’s pre-sub-division/split capital details are provided below:
| Type of Capital | Pre-Subdivision/Split | Face Value |
|---|---|---|
| Equity Shares | 156,55,5952 shares | Rs 5/- each |
| Preference Shares | 10,00,000 shares | Rs 10/- each |
The record date for the purpose of this equity share sub-division is yet to be determined and will be announced in due course following shareholder approval.
General Corporate Updates
The Board also set the date for the company's 41st Annual General Meeting (AGM), which is scheduled to be held on Thursday, September 17, 2026. The meeting will take place via Video Conferencing or other Audio Visual Means.BANSALWIRE Stock Price Movement
Today, Bansal Wire Industries Limited edged higher in post-market trading, gaining 0.56% to settle at ₹321.7 after an active session. The stock saw a total traded volume of 175,598 shares during the market close.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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