“In pursuance of the SEBI (LODR) Regulation, 2015, the instructions are given here that the meeting of the Board of Director of the company will be held on Thursday, March 13, 2025, Inter Alia; Face value is Rs. 10/- is determined by the Board of Director of the entire paid-up, such as the company’s shareholders and any regulatory/ legal approval, as required by the Board of Director, as required under the applicable law, “the company said in the exchange filing.
The announcement was made by the company after the market closed on Friday.
If the board allows the split of stock at the next board meeting, this will be the first example of splitting the gansole engineering shares, according to Trendlin data.
In addition, the company informed that its board would also discuss and approve the methods for raising funds through equity shares, foreign currency convertible bonds or other financial instruments, which would be subject to regulatory and shareholder clearance.
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In other exchange filings, promoters of gensole engineering announced that they sold 2.37% of the total equity in the company, which is 9 lakh shares, ‘Liquidity should be unclocked and re -invest in the business.’
The promoters will also pour the amount received by this sale or more in the Wartrant Rent Subscription Round, which runs on June 18, 2024, which will provide additional growth capital to the company.
After this transaction, the promoters now have 59.70% of the company.
In the last 8 trading sessions, gansol engineering stock declined 70%, which began in late February and intensified following multiple credit rating downgrades by Care and ICRA.
Shares of Gansol Engineering on BSE on Friday were 4.2% lower at Rs. Closed at 321.20.
Also Read: Gensole Engineering Shares extends for 8th day, CFO cracks 10% resigning
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