{"id":6254,"date":"2023-08-11T17:59:56","date_gmt":"2023-08-11T12:29:56","guid":{"rendered":"https:\/\/sgxnifty.xyz\/?p=6254"},"modified":"2023-08-11T17:59:58","modified_gmt":"2023-08-11T12:29:58","slug":"pharma-stocks-strong-quarter-reflects-110-stock-split","status":"publish","type":"post","link":"https:\/\/sgxnifty.xyz\/blog\/pharma-stocks-strong-quarter-reflects-110-stock-split.html","title":{"rendered":"Pharma Stock’s Strong Quarter Reflects 1:10 Stock Split"},"content":{"rendered":"\n
\"Pharma<\/figure>\n\n\n\n

<\/p>\n\n\n\n

Sigachi Industries Ltd’s board of directors convened a meeting on Thursday where they made a significant decision. <\/p>\n\n\n\n

The committee, representing the small-cap company, approved a stock subdivision plan in a 1:10 ratio. This means that a single stock with a face value of \u20b910 will be divided into 10 separate shares, each holding a face value of Re 1 per equity share. <\/p>\n\n\n\n

The company has formally communicated this stock split resolution to the Indian stock exchanges. Additionally, the company mentioned that they will announce the record date for the stock split in the near future.<\/p>\n\n\n\n

Details of Sigachi Industries’ Stock Split Unveiled<\/strong><\/h2>\n\n\n\n

Sigachi Industries Notifies Indian Stock Exchanges Regarding Stock Split Resolution. In accordance with Regulations 33 and 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Sigachi Industries Limited has officially informed the exchanges about a significant decision. <\/p>\n\n\n\n

The company’s Board of Directors convened on Thursday, August 10, 2023, to deliberate various matters, including the approval of a sub-division or stock split. The proposal entails transforming each existing fully paid-up Equity Share with a face value of Rs. 10\/- into 10 fully paid-up Equity Shares of Re. 1\/- each.<\/p>\n\n\n\n

The specifics of the record date for the equity share subdivision will be communicated to the exchanges following shareholders’ approval at the Annual General Meeting (AGM). <\/p>\n\n\n\n

Detailed information regarding the sub-division, in compliance with SEBI Circular No. CIR\/CFD\/CMD\/4\/2015 dated September 9, 2015, is provided in Annexure C.<\/p>\n\n\n\n

Sigachi Industries Unveils Key Development<\/strong><\/h2>\n\n\n\n

Pharma Company’s Board Sanctions Convertible Warrants Allotment and Acquisition of Stake in Trimax BioSciences<\/p>\n\n\n\n

In a significant move, the board of directors at the pharmaceutical firm has granted approval for the allocation of 1,09,75,000 Convertible Warrants. These warrants will be issued at an issue price of \u20b9261\/- per warrant to both Promoters and Non-Promoters in aggregate. This decision aligns with the prior endorsement from the General Body and adheres to the In-principle approval granted by the Exchanges.<\/p>\n\n\n\n

Additionally, the board has given the green light for the acquisition of a substantial stake in Trimax Bio Sciences Private Limited. The pharma company is set to procure 2,88,00,000 Equity Shares of Rs.10\/- each, constituting a significant 80% of the paid-up Equity Share Capital. This acquisition comes at a value of Rs. 100 Crores. <\/p>\n\n\n\n

Furthermore, a future proposal outlines the intent to secure the remaining 20% of the paid-up Equity Share Capital of Trimax Bio Sciences Private Limited after a three-year period. The proposed sum is either Rs.25 Crores or 8.5 times the EBITDA multiples, whichever emerges as the higher value, with the purchasers’ call option.<\/p>\n\n\n\n

Comprehensive details of this acquisition, including the Share Purchase Agreement with Trimax Bio Sciences Private Limited, are provided in Annexure E, adhering to the guidelines set forth in SEBI Circular No. CIR\/CFD\/CMD\/4\/2015 dated September 9, 2015.<\/p>\n\n\n\n

*Disclaimer<\/strong>: The opinions and suggestions presented above belong to individual analysts or brokerage firms, and do not represent the viewpoint of sgxnifty<\/a>. We encourage investors to consult certified experts before making any investment choices.<\/p>\n","protected":false},"excerpt":{"rendered":"

Sigachi Industries Ltd’s board of directors convened a meeting on Thursday where they made a significant decision. The committee, representing the small-cap company, approved a stock subdivision plan in a 1:10 ratio. This means that a single stock with a face value of \u20b910 will be divided into 10 separate shares, each holding a face … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[],"class_list":["post-6254","post","type-post","status-publish","format-standard","hentry","category-blog"],"yoast_head":"\nPharma Stock's Strong Quarter Reflects 1:10 Stock Split - SGX NIFTY<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sgxnifty.xyz\/blog\/pharma-stocks-strong-quarter-reflects-110-stock-split.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pharma Stock's Strong Quarter Reflects 1:10 Stock Split - SGX NIFTY\" \/>\n<meta property=\"og:description\" content=\"Sigachi Industries Ltd’s board of directors convened a meeting on Thursday where they made a significant decision. 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