Stock Split: This textile company to consider first sub-division of shares

Stock Split: Textile company Nandan Denim has informed stock exchanges that its board is likely to consider and approve sub-division and stock split this month.

"To consider and approve Sub-division / Split of Equity Shares of the Company pursuant to the provisions of Section 61 of the Companies Act, 2013," the company said in an exchange filing.

According to the company, the board will meet on June 17 to consider the approval for the sub-division/split of equity shares of the firm. This will be the first time the company will be carrying out a stock split.

The company has yet to fix the record date for this corporate action.

The trading window for dealing in the securities of the company by all the designated persons including their relatives, shall remain closed from June 06, 2024, till June 19, 2024.

Earlier, the company had bonus shares in the ratio of 2:1 i.e. shareholders got two shares for every one share held by them.