Board of multibagger stock considered the proposal of stock split
Premium- TPL Plastech Ltd is an industrial firm with a market valuation of ₹272.70 crore that belongs to the small-cap category.
TPL Plastech Ltd is an industrial firm with a market valuation of ₹272.70 crore that belongs to the small-cap category. The company is the second-largest maker of drums in India, specialising in bulk packaging, or drums with capacities between 210 and 250 litres. Today, the firm provides a wide selection of IBCs with a 1000-liter capacity as well as drums with a 25- to 250-liter capacity and wide, open top, and narrow mouths. Currently, the portfolio features a vast selection of open top, wide mouth, and narrow mouth drums with capacities ranging from 25 L to 250 L.
The company has said in a regulatory filing that “The Board considered the proposal for sub-division of 1 (One) equity share of the Company having face value of ₹10/- each into 5 (Five) equity shares having face value of ₹2/- each, subject to regulatory/statutory approvals as may be required and the approval of the members of the Company. Further, the Board recommended consequential amendments in the Capital Clause of the Memorandum of Association of the Company, subject to approval of the members of the Company. The record date for the sub-division of equity shares shall be decided by the Board and will be intimated to the exchanges."
Stock split details of TPL Plastech as per the data available on stock exchanges
Split Ratio: The Board considered the proposal for sub-division of 1 (one) equity share of the Company having face value of ₹10/- each into 5 (Five) equity shares having face value of ₹2/- each, subject to regulatory/statutory approvals as may be required and the approval of the Members of the Company at the ensuing AGM.
Rationale behind the split: To enhance the liquidity in the capital market, to widen shareholder base and to make the shares more affordable to small investors.
Pre and post-share capital and number of shares of each class -authorized, paid-up and subscribed: Pre-split (Authorized)- 2,00,00,000 Equity shares of ₹10 each fully paid up (No. of shares), amount ₹20,00,00,000 Cr. Post-split (Authorized)- 10,00,00,000 equity shares of ₹2 each fully paid up (No. of shares), amount ₹20,00,00,000 Cr.
Paid-up and subscribed share capital: 1,56,00,600 equity shares of ₹10 each fully paid-up (pre-split), amount ₹15,60,06,000 Cr. 7,80,03,000 equity shares of ₹2 each fully paid-up (post split), amount ₹15,60,06,000 Cr.
Expected time of completion: Within 3 months from the date of Members approval.
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TPL Plastech Limited's shares ended trading today at ₹174.00 per share, up 0.40 per cent from the previous close. The stock has achieved a multibagger return of 248.13 per cent during the past three years, and it has climbed by 2,385.71 per cent to reach its all-time high. The stock has gained 5.81 per cent YTD so far in 2022.
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