BEML Stock Split Gets Board 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.