Lloyds Metals board approves stock split

Lloyds Metals board approves stock split


Mumbai: Lloyds Metals and Engineers Ltd said on 10 September it will issue 10 lakh warrants to investors on preferential basis for Rs9 crore and will split its shares in 1:5 ratio.

The company would issue 10 lakh warrants at Rs90 each, entitling the holders to apply for equal number of equity shares within 18 months.

Lloyds Metals would sub -divide its equity shares of Rs10 each into five shares of Rs2, subject to shareholders approval, the company said in a filing to the BSE.

An extra ordinary general meeting of the shareholders would be held on 3 October for seeking their approval for the aforesaid preferential allotment and stock split.

The company’s shares were trading at Rs145.55, up 4.98% on BSE in the afternoon.