PSU in focus: BEML declares stock split 1:2 to enhance stakeholders’ participation

Shares of BEML Ltd are in the spotlight in the upcoming trading session as the company has announced that it will split the stock of Rs 10 per equity share into halve.

The sub-division or the split of the existing 1 (One) Equity Share of face value of Rs.10/- (Rupees Ten Only) each fully paid up into 2 (Two) Equity Shares of face value of Rs. 5/- (Rupees Five Only) each fully paid up, subject to shareholders' approval.

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The record date for the purpose of split of Equity Shares shall be decided after obtaining approval for sub-division/ split from the shareholders and will be intimated in due course, it added in the filing.

The Rationale behind the split as mentioned in the filing is to comply with DIPAM Guidelines on Capital Restructuring, to encourage wider participation of small investors; and to enhance liquidity of the Equity Shares of the Company in the Stock Market.

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Before the stock split, the Authorized Share Capital of the Company is Rs. 100,00,00,000/- (Rupees One Hundred Crores only) divided into 10,00,00,000 (Ten Crores) Equity Shares of Rs. 10/- (Rupees Ten Only) each.

The expected time of completion is about 2-3 months from the date of Shareholders' approval.

Post Sub-division, the Authorized Share Capital of the Company is Rs. 100,00,00,000 (Rupees One Hundred crore only) divided into 20,00,00,000 (Twenty crore only) shares of Rs.5/- (Rupee Five only) each.

The stock has been continuously in downward trend in the last consecutive five session with a fall of -6.14%. The P/E Ratio is 62.24. The 52-week high is at Rs 4,874.80 at BSE.

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