The company through a stock exchange filing informed that the next meeting of the board is scheduled to take place on November 8.
Stock Market News: There is a piece of good news for the shareholders of HMA Agro Industries Limited. The company has recently announced that the board could soon declare a stock split. The company through a stock exchange filing informed that the next meeting of the board is scheduled to take place on November 8. A proposal to split the equity shares will be taken up for consideration.
The filing said, “Pursuant to Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Wednesday, 08th Day of November, 2023, inter alia to consider and approve the following proposals.”
“To consider and approve the unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter/half year ended on September 30, 2023,” the filing read.
“To consider and approve the proposal to sub-divide/split of the equity shares of the Company in such manner as may be determined by the Board of Directors and subject to approval of the shareholders and such authorities as may be required,” the company’s statement added.
The stock split is done to increase liquidity and to make shares affordable for various investors who could not buy the shares of that company before due to high prices. The current market price of HMA Agro Industries shares is Rs 684.
The Rs 480-cr IPO of HMA Agro Industries was subscribed 1.62 times in June earlier this year. Its shares made a positive market debut, listing with a premium of nearly 7 per cent.
HMA Agro Industries is a leading exporter of frozen buffalo meat in India. The company exports its products to more than 40 countries.
