Tirupati Innovar Ltd Approves Share Split and Bonus Issue, Records Key Director Resignations

Tirupati Innovar Ltd Approves Share Split and Bonus Issue, Records Key Director Resignations​

Tirupati Innovar Limited (formerly Tirupati Tyres Limited) announced several major corporate decisions following a Board of Directors meeting held on June 19, 2026. The outcomes include the approval of a share split and a bonus issue, alongside accepting the resignations of senior management personnel and a director.

The company approved the sub-division (split) of its existing equity shares in the ratio of 1:10. This means that one Equity Share with a face value of Rs. 10.00/- will be split into ten Equity Shares, each with a face value of Rs. 1/-. The stock split is intended to enhance market liquidity and make the company's shares more accessible to retail investors.

The board also approved the issuance of Bonus Shares at a ratio of 5:8 (five bonus equity shares for every eight existing equity share). This bonus issue will be capitalized from the securities premium account, subject to the approval of the shareholders.

Capital Restructuring Details​

The meeting reviewed the capital structure changes associated with the proposed split and bonus issuance. The following details were recorded regarding the authorized and paid-up capital before and after the split:


The proposed bonus issue involves issuing Equity Shares of face value Rs. 1/- each. The total issuance was calculated at Rs. 15,27,71,875/-, comprising 15,27,71,875 shares. This bonus issue is financed using the securities premium account, and the company reported a Securities Premium balance of Rs. 31,50,00,000 as of March 31, 2026.

Following the successful implementation of the split, the total paid-up share capital post-bonus issue is projected to be 39,72,06,875 Equity Shares of face value Rs. 1/- each, aggregating to Rs. 39,72,06,875/-.

Leadership Changes and Appointments​

The Board accepted the resignations of two key personnel: Ms. Yashaswi Jharbade, who resigned as Company Secretary, Compliance Officer, and Key Managerial Personnel due to personal reasons and other professional commitments; and Mrs. Kiran Parsotambhai Makhecha (DIN: 10861776), who tendered her resignation from the post of Non-Executive Independent Director due to pre-occupation with other matters. Both resignations were effective from June 19, 2026.

In support of these capital restructuring activities, the Board approved the draft Postal Ballot Notice required for seeking shareholder approval for both the proposed share split and the bonus issuance. The company appointed M/s. Vishakha Agrawal & Associates as the Scrutinizer for the Postal Ballot process. Central Depository Services Limited (CDSL) was also designated as the agency to provide remote e-voting services, with June 19, 2026, fixed as the cut-off date for determining member eligibility to vote electronically.

Stock Price Movement​

Tirupati Innovar Ltd settled at ₹10.59 after posting a gain of 1.92% in shares.The stock remained completely flat throughout the session, with the intraday high and low both locked at ₹10.59.