IB Infotech Enterprises Ltd. to Sub-divide Shares
IB Infotech Enterprises Limited announced that its Board of Directors approved a proposal for the sub-division of shares at a meeting held on March 31, 2026. The meeting commenced at 3:00 p.m. and concluded at 4:30 p.m.The company plans to sub-divide 1 (one) equity share with a face value of Rs. 10/- each into 10 (ten) equity shares with a face value of Re. 1/- each. This move aims to improve liquidity, make the shares more affordable for small investors, and broaden the investor base. The sub-division is subject to shareholder approval through Postal Ballot.
The Board also approved altering Clause V of the Memorandum of Association to reflect the change in share capital resulting from the sub-division and to adopt a new set of Articles of Association in accordance with the Companies Act, 2013.
The company anticipates completing the corporate action on or before May 31, 2026, pending necessary approvals.
Here's a summary of the pre- and post-sub-division share capital:
| Particulars | Pre Sub-Division | Post Sub-Division |
|---|---|---|
| Authorized Capital | 1,00,00,000 Shares | 10,00,00,000 Shares |
| Face Value (Rs.) | 10 | 1 |
| Paid-up Capital | 12,80,721 Shares | 1,28,07,210 Shares |
| Face Value (Rs.) | 10 | 1 |
| Subscribed Capital | 12,80,721 Shares | 1,28,07,210 Shares |
| Face Value (Rs.) | 10 | 1 |
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