Updated on August 22, 2024 at 08:20 IST
Rushil Decor approves conversion of warrants worth Rs 9 lakh (Image: Shutterstock/ET NOW)
Rushil Decor: Ahmedabad-based interior decorating company Rushil Decor has completed the allotment of 900,000 equity shares of Rs 1 each post-demerger. The allottees belong to the non-promoter group. The allotment was done after conversion of warrants into an equal number of equity shares.
Founded in 1993, Rushil Decor is a small-cap company and its shares are traded on two leading stock exchanges, NSE and BSE. On Wednesday, the shares rose more than 2 percent to close at Rs 38.40 on the BSE.
Rushil Decor Stock split
Recently, Rushil Decor has split the face value of its equity shares from Rs 10 to Rs 1 per share. The effective date of the split was August 9.
A stock split is a corporate action in which a publicly traded company divides the par value of its shares in a specific ratio. The ratio of the split is determined by the company’s board of directors and approved by the members.
The basic idea behind the demerger or stock split is to increase the liquidity of the stock by increasing the number of shares outstanding in the secondary market by issuing additional shares to the eligible shareholders. This helps a company to expand its investor base. The corporate action does not affect the market capitalization of the company.
Rushil Decor share price development
According to BSE analysis, Rushil Decor shares have given a positive return of 42 percent in the last one year and have corrected by 23 percent in two years. In the last 5 years, the Smallcap stock has achieved a solid return of 172 percent. The counter has multiplied investors’ wealth by more than 963 percent in a decade.
Rushil Decor is a leading manufacturer of laminated boards, medium density fibreboards, pre-laminated medium density fibreboards and polyvinyl chloride boards. The company is backed by foreign financial institutions which own 2.15 percent stake as of June 2024 quarter. The promoters hold the majority stake of 55.34 percent.
(Disclaimer: The above article is for informational purposes only and should not be considered as investment advice. ET NOW DIGITAL recommends its readers/viewers to consult their financial advisor before taking any decision regarding any financial matter.)
