Pipan Oils Board Approves Preferential Issue & Stock Split
Pipan Oils Ltd's Board of Directors convened on September 5, 2026, approving several key corporate actions. The board sanctioned a preferential issue of up to 26,29,416 Compulsorily Convertible Preference Shares (CCPS) at a premium of ₹89 per share, raising approximately ₹23.93 crore. Additionally, the company approved a stock split for its preference shares, subdividing each ₹10 face value share into five ₹2 face value shares, subject to shareholder approval. The board also approved changes to the capital clause of the Memorandum of Association to accommodate this split and appointed Ms. Mayuri Sinha as Scrutinizer for the upcoming AGM. Mr. Avnish Jindal's designation was changed from Whole-time Director to Managing Director, pending member approval.
Key Highlights
- Board approved preferential issue of CCPS worth ₹23.93 crore.
- Approved stock split of preference shares (1:5 ratio).
- Appointed new Managing Director, subject to AGM approval.
- Approved changes to Memorandum of Association for share split.
- Noted Director's Report and approved AGM notice.
Price Impact
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