Le Merite Exports Limited Board Approves Split of Equity Shares
Le Merite Exports Limited's Board of Directors, during a meeting held on April 8, 2026, approved the sub-division or split of the company's equity shares. This corporate action involves splitting one equity share with a face value of Rs. 10 each into five equity shares, each with a face value of Rs. 2.The proposed split requires the consequential alteration of the Company's Memorandum of Association, which is subject to the approval of the Members via a postal ballot, alongside any requisite regulatory or statutory approvals. The Board noted that the record date for this equity share sub-division will be communicated at a later time.
The company plans to issue a Notice of Postal Ballot to seek necessary member approvals and will submit this notice to the Stock Exchanges in due course.
Details of Share Capital Alteration
The move aims to enhance the liquidity of the company's equity shares and encourage participation from retail investors by making the shares more affordable. The details concerning the share capital structure before and after the split are outlined below.| Metric | Pre sub-division / split (As on the date of this intimation) | Post sub-division / split* |
|---|---|---|
| Authorised Share Capital (Equity Shares) | 3,50,00,000 | 17,50,00,000 |
| Issued Share Capital (Equity Shares) | 2,50,33,600 | 12,51,68,000 |
In addition, the company's operational details regarding the share class and timing are provided for reference.
- Class of Shares: The company has only one class of equity shares.
- Timeline: The split is tentatively expected to be completed within 2 months from the date of the Members' approval.
The Board meeting commenced at 04:00 p.m. and concluded at 04:30 p.m.
LEMERITE Stock Price Movement
Shares of Le Merite Exports Limited today slipped by 0.75% to settle at ₹443.35. The stock traded on a volume of 28,221 shares during the session.Source:
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