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Business News/ Markets / Stock Markets/  Board of multibagger stock considered the proposal of stock split
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Board of multibagger stock considered the proposal of stock split

TPL Plastech Ltd is an industrial firm with a market valuation of ₹272.70 crore that belongs to the small-cap category.

TPL Plastech Limited's shares ended trading today at ₹174.00 per share, up 0.40 percent from the previous close. (REUTERS)Premium
TPL Plastech Limited's shares ended trading today at 174.00 per share, up 0.40 percent from the previous close. (REUTERS)

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.

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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ABOUT THE AUTHOR
Vipul Das
Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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Published: 08 Aug 2022, 09:54 PM IST
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