Sprayking Limited To Go for 1:2 Stock Split; Rs 50 Crore Rights Issue

Mumbai, June 10, 2025: In a bold move to boost investor participation and fuel future expansion, Sprayking Limited (BSE: 544001) has rolled out a significant capital restructuring plan. The board of directors, in a meeting held today, greenlit three major actions: a 1:2 stock split, a threefold increase in authorised share capital to ₹66 crore, and a ₹50 crore rights issue.

As of 9:42 AM IST on June 10, 2025, shares of Sprayking Ltd were trading at ₹6.90, marking a 1.92% gain from the previous close. The stock opened at ₹6.88 and moved between an intraday high of ₹7.15 and a low of ₹6.85. The positive price action follows the company’s announcement of a 1:2 stock split, an increase in authorised capital to ₹66 crore, and a ₹50 crore rights issue. Market capitalisation stood at ₹72.92 crore with a P/E ratio of 1.00.

Stock Split: Shares to Become More Affordable

Sprayking has proposed a stock split to enhance liquidity and broaden accessibility for small and retail investors. Each equity share with a face value of ₹2 will be subdivided into two equity shares of ₹1 each, subject to shareholder and regulatory approvals.

Share Capital Breakdown Before and After the Split:

Reason: The split aims to enhance share affordability, improve liquidity, and widen investor reach, especially among retail participants.

Authorised Capital Tripled to ₹66 Crore

To accommodate future capital requirements, the board has approved raising the authorised share capital from ₹22 crore to ₹66 crore.

Revised Authorised Capital Structure:

This change will involve altering Clause V of the Memorandum of Association and requires shareholder approval via postal ballot.

₹50 Crore Rights Issue Announced

Sprayking also plans to raise up to ₹50 crore via a rights issue. The equity shares will have a face value of ₹1 each, and will be offered to existing shareholders as of a record date that will be announced soon.

Key Details of the Rights Issue:

The company has appointed intermediaries and a scrutinizer to oversee the rights issue process and ensure regulatory compliance through e-voting mechanisms.

Regulatory Disclosures

All announcements are in accordance with Regulation 30 of the SEBI (LODR) Regulations, 2015. The company has disclosed the actions as per SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, and SEBI Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

About Sprayking Limited

Formerly known as Sprayking Agro Equipment Ltd, Sprayking Limited is based in Jamnagar and specialises in manufacturing and exporting brass forged and turned components. Listed on the BSE under Scrip Code: 544001, the company is poised to leverage its capital restructuring for stronger financial positioning and potential expansion in both domestic and global markets.

REF: https://www.bseindia.com/xml-data/corpfiling/AttachLive/d887cb78-12d0-4d8e-8cb9-9994669c55fe.pdf

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