Split19 Apr 2024, 07:59 pm
Premier Explosives Ltd: Board Approves Equity Share Split and Fundraising up to Rs. 400 Crores
AI Summary
The Board of Directors of Premier Explosives Ltd held a meeting on April 19, 2024, and approved the sub-division of existing equity shares into five shares of Rupees Two face value and recommended raising funds through various methods up to Rs. 400 crores. The details, including the record date for the share split and terms & conditions for fundraising, will be communicated in due course.
Key Highlights
- Board approved equity share split from Rs. 10 to Rs. 2
- Funds to be raised by issuing instruments or securities for up to Rs. 400 crores
- Decision on terms & conditions of fundraising to be made by Fund Raising Committee
- Approval from shareholders to be sought through Postal Ballot
- Shareholders will be informed of the record date for the share split and E-Voting Rights