Cropster Agro Limited is a trader of rubber, plastic, and chemicals. The company was first founded as Planters Polysack Limited on May 17th, 1985, and it deals in a range of products, including soda ash, acids, bases, and bleaching. Cropster Agro Limited is an Indian company that also deals in agricultural products. In addition, the company prepares, produces, processes, markets, imports, exports, sells, and deals in a variety of agro/food products, such as pickles, grains, vegetables, herbs, spices, and oil seeds. Tuesday saw Cropster Agro’s shares close 2.00% higher on the BSE at Rs 484.60 a share following the company’s announcement of a double dhamaal deal for investors, which included a 2:1 bonus share and a 1:10 stock split.

Cropster Agro Stock Split

The Board of Directors in their meeting held on Monday, 23rd September, 2024 considered and approved sub-division of 1 (One) equity share of face value of Rs 10/-(Rupees Ten only) each fully paid-up to 10 (Ten) equity shares of the face value of Rs 1 (Rupee One only) each fully paid-up. The rationale behind the stock split is to improve the liquidity of the company’s equity shares in the stock market and to make the shares more affordable to small retail investors.

Cropster Agro Bonus Shares

The Board of Directors in their meeting held on Monday, 23rd September, considered and approved bonus issue of equity shares in the ratio of 2:1 i.e., 2 equity shares of Rs 1/- each for every 1 equity share of Rs 1/- each held by the shareholders of the company as on the record date (to be determined by the Board and will be intimated to the exchange), subject to the approval of members of the company by Extraordinary General Meeting, said Cropster Agro in a stock exchange filing.

56,00,00,000 equity shares of Rs 1/- each is the total number of securities proposed to be issued or the total amount for which the securities will be issued (approximately) as a part of bonus shares.

A share premium of Rs. 56 Crore is required for implementing the bonus issue and as of September 18, 2024, the balance of Rs. 57 Crore is available in the Securities Premium Account of the company.

Cropster Agro Stock Split Update

“Upon the sub-division of the Equity Shares as aforesaid, the Existing Share Certificate(s) in relation to the existing Equity Shares of the face value of Rs 10/- (Rupees Ten only) each held in physical form shall be deemed to have been automatically cancelled and to be of no effect on and from the Record Date and the Company may without requiring the surrender of the existing Share Certificate(s) directly issue and dispatch the new Share Certificate(s) of the Company, in lieu of such existing issued Share Certificate(s) and in case of the Equity Shares held in dematerialised form, the number of sub-divided Equity Shares be credited to the respective beneficiary accounts of the shareholders with the Depository Participants, in lieu of the existing credits representing the Equity Shares of the Company before sub-division,” said Cropster Agro in a regulatory filing.

Cropster Agro Share Price Target

“Cropster Agro stock price is overbought yet bullish on the Daily charts with next resistance at 504.25. Investors should be booking profits at current levels as a Daily close below support of 443 could lead to a target of 320 in the near term,” said A R Ramachandran, Independent Research Analyst.

Story first published: Wednesday, September 25, 2024, 0:05 [IST]