Hotel Leela gets nod for stock split

Hotel Leelaventure Ltd says it has received shareholders' approval for stock split in the ratio of 1:5.

Hotel Leelaventure Ltd on Tuesday said it has received shareholders' approval for stock split in the ratio of 1:5.

HT Image

The shareholders at the AGM held on July 31 accorded the sub-division of the company's equity shares of Rs 10 to five equity shares of Rs 2 each, the company informed the Bombay Stock Exchange.

The company also got shareholders approval for the sub-division of the authorised share capital into 60 crore equity shares of Rs 2 each, 60 lakh redeemable preference shares of Rs 100 each and consequential amendments in its memorandum of association, it added.

The shares of the company were trading at Rs 291.50, up 2.41 per cent on the BSE.