Clean energy solutions provider Servotech Power Systems has introduced the record date for the sub-division of its equity shares, in line with an change submitting. The determination to separate the face worth of shares was introduced by the Delhi-based firm in May. The rationale behind the cut up of equity shares is to reinforce the liquidity of the corporate’s equity shares and to encourage wider participation out there.
The present face worth of every share of the main producer of LED lights, photo voltaic panels and UVC disinfection merchandise is Rs 2. As per the submitting, the face worth of every share will probably be sub-divided from Rs 2 to Re 1.
“Register of members and share transfer books will remain closed from July 20 to August 4 for ascertaining the entitlement of shareholders for the purpose of sub-division (split) of equity share having a face value of Rs 2 each into 2 equity shares of face value of Rs 1 each,” {the electrical} tools firm stated in a submitting.
“July 28 has been fixed as Record Date for the purpose,” it added.
Post sub-division, the full quantity of equity shares of the corporate within the secondary market would improve to 22 crore, the submitting stated.
This is the second sub-division by the corporate inside a yr. Earlier in February, the face worth of the smallcap inventory was sub-divided from Rs 10 to Rs 2.
Servotech is primarily engaged in offering energy-efficient lighting solutions and manufacturing and distribution of a spread of photo voltaic merchandise. It additionally offers revolutionary tech-enabled solutions within the electrical car area. With EV calls for hovering, the agency is hopeful that it’ll account for a big market share.
The agency had posted multi-fold soar in consolidated web revenue to Rs 6.05 crore for March quarter 2022-23 on the again of increased revenues.
