10:1 Stock Split: Pavna Industries Ltd, a key manufacturer of automotive parts, has announced that its shareholders have approved a stock split in the ratio of 10:1 in AGM. This is the company’s first stock split.Shareholders approve stock splitIn a regulatory filing dated July 2, the company informed that the proposal to sub-divide the equity shares was approved with overwhelming support, 99.98% votes cast in favour and just 0.02% against.Pavna Industries Stock SplitThe company has announced a stock split in the ratio of 10:1. This is the company's first stock split."Sub-division/ Split of equity shares of the Company, such that 1 (One) Equity Share of Face Value Rs. 10/- (Rupees Ten Only) each fully paid up, be Sub-divided / Split into 10 (Ten) Equity Shares having face value of Re. 1/- (Rupee One Only) each fully paid up, subject to necessary approvals," the company informed in its July 2 dated exchange filing.A stock split is a corporate action where a company increases the number of its outstanding shares by issuing more shares to existing shareholders, while simultaneously reducing the par value (or face value) of each share. This action does not change the company's overall market capitalization or the total value of an investor's holdings.Record date to be announced laterPavna Industries added that the record date for the stock split will be announced in due course, after obtaining the necessary shareholder and regulatory approvals.Business expansion near Jewar AirportSeparately, Pavna Industries also announced the acquisition of an additional 4.96 acres of land near the upcoming Jewar Airport in Uttar Pradesh. This follows its earlier purchase of 4.64 acres in July 2025.The company said the move is part of its long-term strategy for capacity building and infrastructure expansion to meet growing market demand.(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
10:1 Stock split: FIRST-EVER split approved by 99.9% shareholders at AGM
