Unison Metals has completed its stock split, a significant corporate action affecting its shareholding structure. The company had set November 28 as the record date for this stock split.

Stock Split Details

The stock split, approved by shareholders at the 35th Annual General Meeting held on September 29, involved the following changes:

This 1:10 stock split means that for every one existing equity share with a face value of Rs. 10.00, shareholders have received ten new shares, each with a face value of Rs. 1.00.

Implementation of the Stock Split

The record date for the stock split was November 28. Following this, on November 29, both the National Securities Depository Limited (NSDL) and Central Depository Services Limited (CDSL) credited the revised shares to shareholders' demat accounts.

Maintenance of Paid-up Capital

Despite the increase in the number of shares, the total paid-up capital of the company remains unchanged at Rs. 29,62,22,870.

Implications for Investors

While a stock split doesn't inherently change the overall value of a shareholder's stake in the company, it may have several potential effects:

1. Increased liquidity: With more shares available in the market, trading volumes may increase.
2. Broader accessibility: A lower price per share might make the stock more accessible to a wider range of investors.
3. Market perception: Stock splits are often viewed positively by the market as a sign of company growth and confidence.

Investors and potential investors in Unison Metals should take note of this change in the company's share structure. As always, it's advisable to consult with a financial advisor before making any investment decisions based on corporate actions such as stock splits.

Unison Metals Limited has taken a significant step in restructuring its shareholding categories by submitting an application to BSE Limited for the reclassification of certain promoters from the 'Promoter Group' to the 'Public' category. This move, which involves three key shareholders, comes after receiving necessary approvals from the company's board and shareholders.

Details of the Reclassification

The reclassification request pertains to three promoters:

In total, the reclassification involves 55,000 shares, representing 0.33% of the company's shareholding.

Timeline of Events

• August 27, 2024: Board approval obtained for the reclassification
• September 24, 2024: Shareholder approval secured
• October 19, 2024: Application submitted to BSE Limited

Regulatory Compliance and Disclosure

Unison Metals Limited acknowledged a delay in disclosing the application submission as required under Regulation 31A(8)(c) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company attributed this oversight to a lack of awareness regarding specific regulatory requirements.

In a statement to the BSE, the company clarified:

"The delayed disclosure... was purely inadvertent and arose due to a lack of awareness and understanding of the specific requirement of the said sub-regulation. Further, we also confirm that there was no mala-fide intention for the non-disclosure of the said sub Regulation."

Corrective Measures

To address this compliance issue, Unison Metals Limited has assured stakeholders that appropriate measures are being implemented to strengthen their compliance framework. The company aims to prevent similar oversights in the future and maintain transparency in its regulatory filings.

Impact and Outlook

While the reclassification involves a relatively small percentage of the company's total shareholding, it represents a notable change in the company's ownership structure. Shareholders and market observers will be watching closely for the BSE's decision on this application and any potential impact on the company's governance and market perception.

As the application is under review by BSE Limited, further updates are expected once a decision is reached on the proposed reclassification.