Unison Metals Splits Shares to Boost Market Appeal

Unison Metals Limited announced a stock split, reducing each Rs. 10 equity share to ten shares of Re. 1, pending board approval. This move aims to enhance share affordability and liquidity, thereby increasing retail investor interest and strengthening shareholder value.

In a strategic move to enhance market presence, Unison Metals Limited (BSE: 538610) has unveiled plans to sub-divide its equity shares. The initiative, approved by the company's Board of Directors, will transform each Rs. 10 share into ten shares valued at Re. 1, pending necessary approvals.

The stock split will significantly expand Unison Metals' share capital, increasing it from 3.42 crore shares of Rs. 10 to 34.25 crore shares of Re. 1. This change awaits regulatory and shareholder approval and aims to complete within two months. By making shares more affordable, the company hopes to attract a broader investor base while improving market liquidity.

A spokesperson from Unison Metals Ltd remarked, "This decision is geared towards boosting retail investor participation and fostering increased interest in our company. We believe this move will contribute to long-term shareholder value." Unison Metals, part of the UCM Group, specializes in stainless steel sheet production and has earned endorsement from UNIDO. The company's shares rose slightly to Rs. 24.16, with a market cap of Rs. 71.57 crore.

(With inputs from agencies.)