- BEML Ltd approved a share split from Rs 10 to Rs 5 face value per share
- One equity share will be split into two shares with half the face value
- Record date for eligibility will be decided after shareholder approval
Public sector company BEML Ltd.'s board on Monday approved a plan to split shares. The company will split one existing fully paid-up equity share of face value of Rs 10 into two paid-up equity shares of face value of Rs 5 each, according to an exchange filing.
The record date to determine eligibility will be decided after obtaining approval from shareholders and will be intimated in due course, the filing said. The share subdivision will be carried out within 2-3 months from the date of approval.
BEML said the stock split is being undertaken to comply with government guidelines on capital restructuring, encourage wider participation of small investors, and enhance liquidity in the market.
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