JOJO Ltd Announces Sub-division of Equity Shares, Reducing Face Value from Rs 10 to Rs 5
JOJO Limited (formerly known as Madhuveer Com 18 Network Limited) has announced the sub-division of its equity shares, aiming to enhance the liquidity and increase public participation in the company's stock. The decision was approved by the Board of Directors on June 10, 2026.The core corporate action involves subdividing the face value of each equity share from Rs. 10 (Rupees Ten only) each to Rs. 5 (Rupees Five only) each. Accordingly, every one existing equity share with a face value of Rs. 10/- each, which is fully paid-up, will be subdivided into two equity shares, each having a face value of Rs. 5/- each and being fully paid-up. This sub-division is subject to the subsequent approval of the company’s members.
The rationale behind this proposed corporate action is stated as enhancing liquidity for the company's equity shares and enabling higher participation from public shareholders.
Share Capital Alterations and Governance Appointments
In addition to the share subdivision, the Board approved consequential alteration to Clause V of the Memorandum of Association of the company, which is also subject to shareholder approval. Furthermore, PCS Rupal Patel has been appointed as Scrutinizer for this process.To obtain formal authorization for both the share sub-division and the capital clause alteration, a Postal Ballot will be conducted. The notice of the Postal Ballot, along with other necessary details, will be communicated to shareholders shortly.
The company has set an expected timeline for completing these corporate actions within three months from the date of Board approval, contingent upon all necessary statutory approvals being obtained.
Pre and Post Share Capital Details
The details regarding the pre-split and post-split equity share capital have been confirmed, reflecting the changes in face value following the sub-division:| Particulars | Pre-Split/Sub-Division of Equity Shares | Post-Split/Sub-Division of Equity Shares |
|---|---|---|
| Authorized Share Capital | 3,80,00,000 shares at Rs. 10/- each (Total: 38,00,00,000/-) | 7,60,00,000 shares at Rs. 5/- each (Total: 38,00,00,000/-) |
| Paid Up Share Capital | 3,44,80,700 shares at Rs. 10/- each (Total: 34,48,07,000/-) | 6,89,61,400 shares at Rs. 5/- each (Total: 38,00,00,000/-) |
| Subscribed Share Capital | 3,44,80,700 shares at Rs. 10/- each (Total: 34,48,07,000/-) | 6,89,61,400 shares at Rs. 5/- each (Total: 38,00,00,000/-) |
The record date for determining the entitlement of members to receive the Sub-division shares will be announced later.
Stock Price Movement
At the close of trade today, JOJO Ltd settled at ₹209.20, sinking 0.71%. The shares traded through a wide intraday range, moving between a low of ₹205.05 and a high of ₹216.45.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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