Waterways Leisure Tourism Approves Share Split to Boost Market Liquidity and Affordability
The Board of Directors of Waterways Leisure Tourism Limited (formerly known as Waterways Leisure Tourism Private Limited) has approved a proposal for the sub-division of its equity shares. This move is intended to enhance liquidity, increase trading volumes, and make the company's stock more accessible to a broader investor base.The split involves converting existing fully paid-up equity shares with a face value of Rs. 10 each into ten equity shares, each having a face value of Re. 1/- (Rupee One only). The sub-division does not affect the overall capital structure or intrinsic value of the company, according to the rationale provided by the Board.
The proposal also includes the consequent alteration of the Capital Clause of the company's Memorandum of Association.
Pre and Post Split Share Capital Structure
Details regarding the Authorized and Paid-up share capital before and after the proposed split were made public. The authorized capital remained stable, while the number of equity shares increased tenfold across both categories.The following table details the shift in capital structure:
| Particulars | Pre-split | Post - Split |
|---|---|---|
| Authorized Share Capital | Rs. 1,00,05,00,000 (comprising of 10,00,50,000 shares @ Rs. 10 each) | Rs. 1,00,05,00,000 (comprising of 1,00,05,00,000 shares @ Re. 1/- each) |
| Issued, Subscribed and Paid-up Capital | Rs. 72,39,45,430 (comprising of 7,23,94,543 shares @ Rs. 10 each) | Rs. 72,39,45,430 (comprising of 72,39,45,430 shares @ Re. 1/- each) |
Purpose and Timeline
The decision for the stock split was motivated by a desire to make the company's shares more affordable and accessible to investors, thereby broadening the shareholder base. The sub-division mechanism is simple: every one equity share of the company with a face value of Rs. 10 will be divided into ten equity shares of Re. 1/- each.The Board approved the alteration of Capital Clause (Clause V) in the Memorandum of Association to reflect this change, which permits the authorized capital to be divided into 1,00,05,00,000 equity shares with a face value of Re. 1/-. The company estimates that the split will be completed within approximately three months from the date of receiving shareholders' approval and subject to necessary regulatory approvals.
CORDELIA Stock Price Movement
As of 2:48 PM, shares of Waterways Leisure Tourism Limited are shedding 0.61% in live trading, currently priced at ₹853 after dipping by ₹5.25 today. The stock sees a traded volume of 1.19 million shares amid the ongoing market 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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