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I S T Ltd Board approves Sub-division of equity shares

Posted On: 2019-10-17 21:40:58

The Board of Directors of I S T Ltd at its meeting held on October 17, 2019, has considered and approved the sub-division of the existing Equity Shares in the ratio of one Equity Share of face value of Rs. 10/- each into 2 Equity Shares of face value of Rs. 5/- each. Consequent upon approval given by shareholders at their Annual General Meeting held on September 30, 2019, considered it and authorized Executive Director/Director and Company Secretary to proceed with taking further necessary actions in the matter.

The board also fixed 4th November, 2019, as the Record date for the purpose.

The Current lot size of the Company is considerably high due to which the shares have become beyond the reach of the retail investors. In order to enhance the participation of retail investors and to increase the investor base, the Board has considered sub-division of Equity Shares of the Company from the existing face value of Rs. 10/-per share to Rs. 5/-per share which shall encourage the retail investors to participate in the Equity Shares. Hence, the sub-division was proposed by the Board of Directors, which have been approved by the shareholders in the forty third Annual General Meeting of the Company and is subject to approval of such other authorities as may be necessary.

Shares of IST LTD. was last trading in BSE at Rs.655 as compared to the previous close of Rs. 650. The total number of shares traded during the day was 103 in over 5 trades.

The stock hit an intraday high of Rs. 670 and intraday low of 626. The net turnover during the day was Rs. 64667.


Source: Equity Bulls

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