Starlineps Enterprises announces first-ever stock split, bonus shares
Moreover, the board has sanctioned the issuance of bonus shares in a 1:5 ratio.
In a bid to increase share liquidity and make them more accessible to small investors, Starlineps Enterprises has approved a stock split. According to an exchange filing, the board of directors of the company has approved the sub-division/split of equity shares of the company from the face value of Rs 5 each to Re 1 each.
The record date for this stock split will be announced in due course.
Moreover, the board has sanctioned the issuance of bonus shares in a 1:5 ratio. This means, the shareholders will receive one additional share for every five shares held.
Earlier, the company reported a 48.17 per cent increase in annual revenue, reaching Rs 30.31 crore for the year ending March 2024.
The company’s annual net profit soared by 192.5 per cent to Rs 1.79 crore.
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