Each ₹10 share to become two ₹5 shares; record date set for October 30, 2026
Chennai, Oct 07: Meenakshi (India) Limited (BSE: 544831, Symbol: MEEIND; Calcutta Stock Exchange: 23128) today announced that its Board of Directors has fixed Friday, October 30, 2026 as the record date for the sub-division of the Company’s equity shares. Under the sub-division, each equity share of face value ₹10 will be split into two equity shares of face value ₹5 each, fully paid-up.
Background: recent BSE listing
BSE approved the Company’s direct listing on the Main Board effective July 22, 2026, and trading began on July 28, 2026. The stock opened at ₹281.99, and the Company remains listed on the Calcutta Stock Exchange. The listing was a direct listing and not an IPO.
Rationale
The sub-division is intended to make the Company’s equity shares more liquid and affordable, encouraging greater participation from retail investors and widening the Company’s shareholder base. The Board believes that the sub-division is in the best interests of the Company and its shareholders.
What it means for shareholders
- More shares: Every shareholder on the record date will hold two shares for each share held before. For example, 100 shares of ₹10 face value become 200 shares of ₹5 face value.
- Lower face value: Face value per share moves from ₹10 to ₹5.
- Same ownership: Shareholders’ proportionate ownership in the Company is unchanged.
Key dates
|
Milestone |
Date |
|
Disclosure of proposal |
August 31, 2026 |
|
Shareholder approval (AGM) |
Monday, September 28, 2026 |
|
Intimation to stock exchanges |
Wednesday, September 30, 2026 |
|
Record date |
Friday, October 30, 2026 |
Further details on implementation will be communicated through the stock exchanges as required.
Commenting on the development, Mr. Ashutosh Goenka, Chairman & Managing Director, Meenakshi India Limited, said:
“Meenakshi India has built a strong base of investors who share our long-term vision. This stock split is a step towards making our shares more accessible to a wider set of investors, especially retail shareholders. We believe it will improve liquidity in the stock and let more investors take part in the Company’s growth journey.”