1:10 Stock Split Approved by THIS Small-Cap Engineering Stock With 176% 5 Year Return Track Record

Engineering and industrial equipment manufacturer Tembo Global Industries Ltd. has approved a 1:10 stock split at the company's board meeting held today, June 16. and is subject to shareholder approval at an upcoming Extraordinary General Meeting (EGM).

Under the proposed stock split, each existing equity share with a face value of Rs. 10 will be subdivided into 10 equity shares with a face value of Rs. 1 each. While the number of shares held by investors will increase tenfold, the overall value of their investment will stay unchanged immediately after the split.

In an exchange filing, the company stated, "Considered, approved, and recommended to the shareholders, an Ordinary Resolution to be passed at the forthcoming Extraordinary General Meeting (EGM), for the alteration of the share capital of the Company by way of sub-division/split of each existing equity share of the Company having a face value of Rs. 10/- (Rupees Ten only) each, fully paid up, into 10 (Ten) equity shares having a face value of Rs. 1/- (Rupee One only) each, fully paid-up."

1:10 Stock Split Details

Tembo Global Industries' 1:10 stock split means that every one share currently held by an investor will be converted into ten shares after the split becomes effective.

For example, an investor holding 100 shares of Tembo Global Industries before the split will own 1,000 shares after the split. However, the stock price will adjust proportionately, to make sure that the total value of the investment remains the same.

Tembo Global Industries Ltd Stock Split Record Date

While the board has approved the proposal, investors will now watch for the announcement of the record date for determining eligible shareholders. The company said these details will be communicated separately after obtaining the necessary approvals.

Tembo Global Shares Today

As of 16 June, Tembo Global shares ended on the NSE at Rs. 560 per share down by 1.37%. The company has a market capitalization of over Rs. 1,038 crore. The stock has traded between a 52-week high of Rs. 837 and a low of Rs. 433.

About Tembo Global Industries

Founded in 2010, Tembo Global Industries operates in the engineering and industrial equipment segment, serving industries through a range of steel-based products and solutions. The company is listed on the NSE under the symbol TEMBO.