Premier Explosives zooms 14% to 52-week high as board weighs stock split plan

On April 19, 2024, the company board to consider a proposal of sub-division/split in the face value of equity shares.

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The share price of Premier Explosives scaled a 52-week high of Rs 1,979.50 in early trade on April 9 as the company plans to review sub-division of its equity shares.

At 9:48am, Premier Explosives was quoting Rs 1,927.05, up Rs 238.40, or 14.12 percent, on the BSE.

A meeting of the board of directors of Premier Explosives is scheduled on Friday, April 19, to consider and approve a proposal of sub-division/split in the face value of equity shares of the company.

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The board will also consider the proposal to raise funds by issue of equity shares or convertible instruments by way of public issue, preferential Issue, private placement (including one or more qualified institutional placements), or through any other permissible mode and / or combination thereof as may be considered appropriate under the applicable law, to eligible investors.

It is subject to the receipt of the necessary approvals, including the approval of the members of the company and such other regulatory / statutory approvals as may be required, including approval of the notice to obtain shareholders’ approvals in this regard and to approve ancillary actions for the above mentioned fund raising.

The trading window for dealing in the securities of the company by the designated persons has been closed from April 01, 2024 and will continue to remain closed till 48 hours after the declaration of Audited financial results of the company for the quarter and financial year ended March 31,2024.