Adani Power seeks shareholders' nod for stock split
ADVERTISEMENT According to the notice, the equity shares of the company of Rs 10 each will be sub-divided into five fully paid-up ordinary (equity) shares of the face value of Rs 2 each each, fully paid-up, ranking pari passu with each other in all respects, as per the document.
The voting period begins from 9 am (IST) on August 6, and ends at 5 pm on September 4.
During this period, the shareholders of the company, holding shares either in physical form or in dematerialised form, as on the cut-off date viz Friday, August 1, 2025, may cast their votes electronically. Adani Power was incorporated in 1996 and in 2009 got listed on the bourses. It has grown significantly in terms of its business and performance over the years resulting in a significant improvement in the market price of the company's securities. It explained that with a view to facilitate larger participation of retail investors and small potential investors in the company's future, the board of directors of the company in its meeting on August 1, 2025, approved and recommended the subdivision/split of equity shares of the company.
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It explained that the sub-division of equity shares of the company will require alteration to the existing capital clause i.e. Clause V of the Memorandum of Association of the company.
There will not be any change in the amount of authorised, issued, subscribed and paid-up share capital of the company on account of sub-division/split of the equity shares, it stated.
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The record date for the aforesaid sub-division of equity shares shall be fixed by the board (or by any duly constituted committee thereof) after the approval of the members is obtained.
The notice showed that post-stock split, the number of equity shares will increase from 2,480 crore to 12,400 crore.
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