The textile company,
Bannari Amman Spinning Mills on Tuesday informed exchanges about the stock split programme which was approved by the shareholders during the company's latest annual general meeting.
At 30th AGM which was held on December 07, Bannari's shareholders approved Sub-division of the face value of equity shares into a smaller amount.
Bannari plans to split one equity share having a face value of Rs10 each into two equity shares resulting in a face value of Rs5 each.
In its regulatory filing, Bannari said, the Shareholders of the Company be and is hereby accorded to the sub-division of 1 Equity Share of the face value of Rs10 each fully paid up into Equity Shares of Rs5 each paid up, resulting in the issuance of 2 Equity Shares of Rs5 each fully paid up, thereby keeping the paid-up capital intact.
On Sensex, Bannari stock ended at Rs103.30 per piece up by 8.74%.