Ion Exchange board approves 1:10 stock split; shares surge up

Ion Exchange board approves 1:10 stock split; shares surge up

Ion Exchange 1:10 Stock Split and Acquisition of MAPRIL

Ion Exchange (India) Ltd. saw a significant surge of 4% in its shares on Thursday following the announcement of the board’s approval of a 1:10 stock split. While the board has yet to determine the record date for equity shares sub-division, one equity share with a face value of Rs 10 each will now be sub-divided into ten equity shares with a face value of Re 1 each.

This corporate action, known as a stock split, increases the total number of outstanding shares while decreasing the share price. While the individual share price may decline, this does not affect the market capitalization of the company.

In related news, Ion Exchange (India) Ltd. has also announced its acquisition of MAPRIL – Produtos Químicos e Maquinas Para an Industria, Lda, based in Portugal, with a total investment of around Rs 24 crore.

Earlier this year, on February 23, the water treatment and environmental management company secured a significant order worth Rs 726.13 crore from Indian Oil Corporation Ltd (IOCL). In December 2022, the company’s management disclosed on CNBC-TV18 that annual order inflows were between Rs 600-800 crore, with order inflows for FY23 expected to exceed Rs 1,000 crore.

Ion Exchange (India) Ltd.’s strategic expansion and impressive order inflows indicate a promising outlook for the company’s future growth and success.

About Ion Exchange:

Ion Exchange (India) Ltd is a leading manufacturer and distributor of water treatment equipment and products. Their extensive range of products includes exchange resins, water treatment chemicals, and advanced filtration systems such as ultra-filtration and nano-filtration membranes, which are utilized in a variety of treatment and conservation applications.

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