1:2 Stock Split: 25th October Record Date; Buy To Book Your Eligibility Now?

Founded in 1943, Sukhjit Starch & Chemicals Ltd. is an Indian agro-processing enterprise. The firm operates in West Bengal's Malda, Punjab's Phagwara, Nizamabad, Telangana, and Himachal Pradesh's Gurplah. The firm produces a wide range of products, such as liquid glucose, modified starches, dextrins, and by-products such as maize oil and bran that are utilised in the food and beverage, paper and board, personal care, pharmaceutical, and pet food sectors.

Sukhjit Starch & Chemicals Stock Split Record Date

"The Board of Directors, in its meeting held today, has inter-alia fixed 25th October, 2024 (Friday) as the 'Record Date' for determining the entitlement of the shareholders for the Split / sub division of Equity Shares of the Company, having face value of Rs.10/- each, fully paid-up, into equity shares having face value of Rs. 5/- each, fully paid-up, as approved by the shareholders through Postal Ballot voting, concluded on 28th September, 2024," said Sukhjit Starch & Chemicals in a stock exchange filing on 11th October.

Capital of Sukhjit Starch & Chemicals

"The split / sub-division of equity shares of the Company necessitates the alteration of the existing Capital Clause i.e. Clause 5 of the Memorandum of Association ("MoA") of the Company. It is pertinent'to note that there is no change in the amount of authorized, subscribed, issued and paid-up share capital of the Company on account of split/ sub-division of the equity shares. Only the number of equity shares has been doubled after the split / sub-division i.e. number of Equity Shares have become 40000000 (Four Crore) in place of the existing 20000000 (Two Crore) Equity Shares and face value has been reduced to half i.e. face value has become Rs. 5/- per Equity Share in place of Rs.10/- per Equity Share. Accordingly, the first line of Clause 5 of the Memorandum of Association after such alteration shall be read as follows: The Capital of the Company is Rs. 20,00,00,000/- divided into 4,00,00,000 Equity Shares of Rs. 5/- each in place of the existing wording "The Capital of the Company is Rs. 20,00,00,000/- divided into 2,00,00,000 Shares ofRs. 10/- each," said Sukhjit Starch & Chemicals in a regulatory filing.

Sukhjit Starch Share Price Target

"Sukhjit Starch is bearish on the Daily charts with strong resistance at 597. A Daily close below support of 559 could lead to a target of 515 in the near term," recommended A R Ramachandran, Independent Research Analyst.

Disclaimer

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