Shares Stock Split, Bonus Issue News: This textile company announces meet - What stockholders should know

Fabric player Alstone Textile (India) Limited has announced that it is scheduled to meet on November 10th 2022 to undertake the corporate action of sub-division of equity shares and issue of bonus shares to the shareholders.

The company board is slated to consider the proposal of a stock split of equity shares with a face value of Rs 10/- of the company in 1:10 ratio.

This means an eligible investor would get 10 equity shares with a face value of Re 1/- each of the company for every one share with a face value of Rs 10/- held by them, if the company announces any such action.

Subsequent to the stock split, the company may announce issuance of bonus shares for the shareholder in any prescribed ratio.

In case of such corporate action, the company would require acceptance of the amendment to the Company's Memorandum of Association to amend the Capital provision and increase the Authorised Share Capital.

For the quarter ended on September 30, 2022, the company reported a profit after tax at Rs 8.26 crore, with a total income of Rs 9.92 crore and an EPS of Rs 6.49 per share.