PC Jeweller Limited on September 24 said its board will meet on September 30 to consider a sub-division or stock split of its existing equity shares.
At the meeting, the board will consider and approve the alteration in the share capital by splitting the equity shares having face value of Rs 10 into smaller denominations, PC Jeweller said in an exchange filing.
The exchange filing read, “…A meeting of its Board of Directors will be held on Monday, September 30, 2024, inter-alia, to consider and approve the alteration in the share capital of the company by sub-division / split of existing equity shares having face value of Rs 10 each…”
If the board agrees to make the shares cheaper, it will be the LIC-backed multibagger small cap company’s first stock split, according to ET Now.
ALSO READ: PC Jeweller gets IndusInd Bank's approval for one-time settlement of outstanding dues
At the same meeting , the board will also consider the appointment of new directors of the company, if any.
Since the proposed meeting will coincide with the closure of the current quarter, the company will be closing the window for trading / dealing in its shares with immediate effect. The trading window will shut till two days after the un-audited financial results for the quarter and six months ended September 30, 2024, is announced.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.