Sprayking Ltd Announces Stock Split & Fundraising Plans Amid Growth Strategy

Sprayking Ltd, a leading brass manufacturer, has unveiled plans to raise funds and execute a stock split, signaling a strategic move to enhance market liquidity and shareholder value. The company’s Board of Directors has approved a stock split, reducing the face value of shares from ₹10 to ₹2, making them more accessible to investors.

 

Key Highlights:

 

Stock Split Details: The company will split its equity shares in a 1:5 ratio, meaning each ₹10 share will be divided into five ₹2 shares.

 

Record Date Fixed: The record date for the stock split is April 12, 2024, determining shareholder eligibility.

 

Fundraising Plans: Sprayking Ltd is evaluating multiple proposals for raising capital, including equity issuance and debt financing, to support expansion initiatives.

 

Market Performance: The company’s stock has delivered massive returns, surging 1215.65% over the last two years, reinforcing investor confidence.

 

Strategic Outlook: The stock split aims to increase liquidity, attract a broader investor base, and position the company for sustained growth.

 

Future Prospects:

Sprayking Ltd’s fundraising efforts and stock split strategy align with its long-term vision of market expansion and financial stability. Investors are closely watching the company’s next steps in capital allocation and business growth.

 

Source: Times Now, ET Now, ICICI Direct.