JSW Dulux Limited Announces Share Split: One Equity Share Divided into Ten Shares
JSW Dulux Limited, formerly known as Akzo Nobel India Ltd., has announced a significant corporate action involving the sub-division or split of its equity shares. The move is aimed at enhancing affordability and increasing accessibility for small retail investors by expanding the retail shareholder base.The company approved the subdivision of its existing one equity share, which had a face value of Rs. 10/- (Rupees Ten only) each, into ten equity shares, each having a face value of Re. 1/- (Rupee One only). This action requires alterations to the company's Memorandum and Articles of Association.
Capital Structure Before and After Split
The split significantly impacts the share capital structure, which the company is currently restructuring. The detailed financial information regarding the pre-split and post-split authorized and issued capital is summarized below:| Particulars | Pre Sub-division/Split | Post Sub-division/Split |
|---|---|---|
| Authorized Equity Share Capital | 12,66,90,000 shares (Face Value Rs. 10/-) | 1,26,69,00,000 shares (Face Value Re. 1/-) |
| Issued and Paid-up Equity Share Capital | 4,55,40,314 shares (Face Value Rs. 10/-) | 45,54,03,140 shares (Face Value Rs. 1/-) |
The rationale provided for the share split is to improve liquidity and encourage broader market participation through increased accessibility for retail investors. The company confirmed that it has issued only one class of Equity Shares.
Operational Timeline
While the Board of Directors approved the changes, various steps remain contingent upon shareholder action. Both the subdivision of shares and the alteration in the Memorandum and Articles of Association are subject to approval by the shareholders through a Postal Ballot, along with any necessary statutory or regulatory approvals.The company stated that the Record Date for this sub-division/split will be determined subsequent to receiving the required shareholder approval and will be communicated in due course. The process is tentatively expected to be completed within two months from the date of the shareholders' approval.
JSWDULUX Stock Price Movement
On Tuesday, JSW Dulux Limited shares edged higher, closing at ₹3157 after gaining ₹94.70, which represented a 3.1% increase in value. The equity traded a total of 62,678 shares throughout the session.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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