Nirman Agri Genetics Ltd on Monday said its board will meet on September 30 to consider proposals including a bonus issue, stock split and expansion into hydroponics and aquaponics. Shares of the company spurted by 5 percent to hit the upper circuit at Rs 172.45 on NSE after the announcement.
The company in a filing stated it is considering the proposal for declaration and recommendation of bonus shares (up to 10 bonus shares for every 1 equity share held), subject to shareholder and other requisite approvals.
Additionally, the company board on September 30 will consider a proposal to subdivide the existing equity share having face value of Rs 10 per share into a greater number of equity shares (up to 1:10 ratio) to improve liquidity and broaden shareholding base.
To address rising demand for sustainable, water-efficient agriculture and pesticide-free produce, the board will consider a strategic expansion into hydroponics and aquaponics, the filing said. With India needing high-yield, low-water approaches, this move would enable the company to leverage its R&D strengths, capture premium margins, and tap both domestic and export opportunities in fresh produce, herbs, and specialty crops, it added.
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