Lucky Core Industries Limited has announced plans to restructure its share capital by reducing the face value of each ordinary share from Rs. 10 to Rs. 2. The decision, made by the company’s board of directors, aims to improve investor accessibility and participation.
In a notice issued on Tuesday, the company outlined the proposed subdivision of its shares, which would result in the creation of 461,795,250 ordinary shares, up from the current 92,359,050 shares.Â
Shareholders would receive five new shares for every one existing share they hold, subject to approval at an upcoming Extraordinary General Meeting (EGM).
The restructuring, which would also require compliance with the Companies Act 2017, is set to take effect after obtaining necessary approvals. The company expects that this move will enhance market activity and make the shares more accessible to a broader range of investors.
