Premier Explosives Declares Record Date for 5:1 Stock Split

Premier Explosives on Thursday, May 30 said it will execute a stock split of its equity shares, with June 21, 2024, the record date. Each existing equity share with a face value of Rs 10 will be subdivided into five equity shares with a face value of Rs 2 each.

 

Key Takeaways from Premier Explosives Stock Split:

  • Premier Explosives will execute a stock split of its equity shares, with June 21, 2024, as the record date. 
  • Each existing share with a face value of Rs 10 will be subdivided into five equity shares with a face value of Rs 2 each.
  • Subdivision of shares was approved by equity shareholders via postal ballot on May 25, 2024.

 

The company via exchanges stated, ‘This is to inform you that the company has fixed Friday, 21st June 2024 as the ‘Record Date’ for determining entitlement of equity shareholders for sub-division/split of existing Equity Shares of the Company, such that 1 (one) equity share having face value of Rs. 10/- (Rupees Ten only) each, fully paid up, will be sub-divided into 5 (Five) equity shares having face value of Rs. 2/- (Rupees Two only) each, fully paid up, ranking pari-passu in all respects’.

 

The subdivision of shares was approved by the equity shareholders via postal ballot on May 25, 2024, and was communicated to the stock exchanges in a letter dated May 27, 2024. 

 

Further, the newly split shares will be fully paid up and rank pari passu (treated equally) in all respects.

 

About Premier Explosives Limited:

Premier Explosives Limited established in 1980 is a 2600 million rupees company. It was founded by the first-generation entrepreneur  A N Gupta, an alumnus of Indian School of Mines, Dhanbad. PEL has the widest range of products and technologies in the manufacture of explosives and accessories. These include emulsion and slurry explosives, LD cartridge explosives, and bulk explosives among others.

 

Read More About Premier Explosives Limited Share Price Here!

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