Shareholders of Mittal Life Style approved a special resolution for the consolidation of its equity shares in a ratio of 10:1 during a meeting held on July 28, 2026. The restructuring alters the Memorandum of Association, increasing the face value of each share from Re. 1/- to Rs. 10/-, while keeping the total authorized share capital constant at Rs. 70,00,00,000. This corporate action aims to align the market price with the company's intrinsic value and reduce overhead costs associated with servicing fragmented shareholders.

The disclosure was made pursuant to Regulation 30 of the Securities & Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Part A of Schedule III and SEBI Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The Board of Directors expects the consolidation to be completed within six months, subject to timely receipt of necessary regulatory approvals. The new consolidated shares will rank pari-passu with existing equity shares.

Capital Structure Changes

The consolidation reduces the number of authorized and issued shares by a factor of ten without changing the total monetary value of the capital. The pre-consolidation authorized share capital of Rs. 70,00,00,000 was divided into 70,00,00,000 equity shares of Re. 1/- each. Post-consolidation, this is divided into 7,00,00,000 equity shares of Rs. 10/- each.

The issued, subscribed, and paid-up share capital will similarly adjust from 44,40,00,000 shares to 4,40,00,000 shares. The company noted that the consolidation is intended to provide a better reflection of operational performance and net worth, potentially improving key per-share financial metrics for investor assessment.

Implementation Details

The company stated that the number of shareholders who did not receive any shares in the consolidation will be ascertained after the Board fixes the Record Date. This information will be disclosed in due course. The consolidated equity shares carry no differential rights compared to the existing structure. Ankitsingh Rajpoot, Company Secretary & Compliance Officer, signed the disclosure letter submitted to the National Stock Exchange of India Limited.

Mittal Life Style Limited has scheduled its 21st Annual General Meeting for Tuesday, July 28, 2026, at 11.30 a.m. through Video Conferencing. The meeting will seek shareholder approval for the consolidation of equity shares from a face value of Re. 1 to Rs. 10. The Register of Members will remain closed from July 22, 2026, to July 28, 2026, to determine shareholder eligibility.

The Board of Directors proposes to consolidate every 10 equity shares of Re. 1 each into 1 equity share of Rs. 10 each. This consolidation will apply to the authorised, issued, subscribed, and paid-up share capital. The authorised share capital will be adjusted from 7,00,00,000 shares of Re. 1 each to 7,00,00,000 shares of Rs. 10 each. The issued, subscribed, and paid-up capital will change from 4,40,00,000 shares of Re. 1 each to 4,40,00,000 shares of Rs. 10 each.

Share Capital Details

Shareholders will not receive fractional shares. Any fractional entitlements arising from the consolidation will be aggregated and held by an Escrow Holder appointed by the Board. These fractional shares will be sold on the stock exchange, and the net proceeds will be distributed to the eligible shareholders. The company has appointed Bigshare Services Private Limited as the e-voting service provider. Remote e-voting is available from July 25, 2026, at 9:00 a.m. to July 27, 2026, at 5:00 p.m.