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The board of Dwarikesh Sugar Industries has approved the sub-division of the company’s equity shares. The existing shareholders will get 10 new equity shares for every one share currently held by them.
The board believes that sub-division of shares of face value of Rs 10 into shares of face value of Re 1 each will result in enhanced liquidity and help in increasing investor base.
BJ Maheshwari, Whole Time Director, Dwarikesh Sugar, sub-division of shares will help in enhancing liquidity and make the company’s equity shares even more affordable to investors at large besides creating value for existing investors.
The company will seek the approval of the members through a postal ballot process which will begin on June 30 and close on July 29.
At the end of March 2017 quarter, Dwarikesh Sugar’s shareholder base stood at 11,102, including that of promoters. Promoters own 41.87 per cent stake, while the rest is held by public.
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