Description
Manbro Industries Ltd has fixed March 25, 2026 as the record date for sub-division of equity shares from Rs.10/- each into ten shares of Re.1/- each. The existing ISIN INE348N01034 will be invalid for exchange transactions on or after the record date.
Summary
BSE has notified trading members that Manbro Industries Ltd (Scrip Code: 512595) has fixed March 25, 2026 as the record date for a sub-division (stock split) of its equity shares. Each existing equity share of Rs.10/- paid-up will be split into ten equity shares of Re.1/- paid-up each. The existing ISIN will cease to be valid for exchange transactions on or after the record date, and a new ISIN will be communicated separately.
Key Points
- Manbro Industries Ltd (BSE Scrip Code: 512595) is undertaking a 10:1 stock split
- Record date fixed: March 25, 2026
- Split ratio: 1 equity share of Rs.10/- → 10 equity shares of Re.1/- each
- Applicable segment: Dematerialised Securities – Rolling Settlement
- Reference circular: DR-847/2025-2026
- Existing ISIN INE348N01034 (Rs.10/- paid-up) will be invalid for exchange transactions on or after March 25, 2026
- New ISIN for Re.1/- paid-up shares will be communicated via a separate notice
Regulatory Changes
No new regulatory framework introduced. This is a corporate action (stock split) executed under existing BSE listing and corporate action guidelines. The face value of the equity share changes from Rs.10/- to Re.1/- per share effective March 25, 2026.
Compliance Requirements
- Trading members must note the change in ISIN effective March 25, 2026 and ensure no transactions are processed using the old ISIN (INE348N01034) on or after that date
- Members should await the separate BSE notice announcing the new ISIN for Re.1/- paid-up shares
- Back-office and settlement systems must be updated to reflect the new face value and ISIN upon issuance
Important Dates
| Event | Date |
|---|---|
| Circular Date | March 13, 2026 |
| Record Date (Sub-Division effective) | March 25, 2026 |
| Old ISIN (INE348N01034) validity ends | March 24, 2026 (last valid date) |
| New ISIN announcement | To be notified separately |
Impact Assessment
- Shareholders: Post-split, each shareholder will hold ten times the number of shares at one-tenth the face value; economic value is unchanged at the time of split
- Liquidity: Stock splits typically improve liquidity by lowering the per-share price, potentially attracting a broader retail investor base
- Trading Members: Operational action required to update ISIN references in trading and settlement systems before March 25, 2026
- Settlement: Trades in the rolling settlement segment must use the correct ISIN; use of the old ISIN after the record date will be invalid and may cause settlement failures
- Overall Impact: Moderate — routine corporate action with defined operational steps; no systemic market risk
Impact Justification
Stock split affects existing shareholders and trading members; requires ISIN transition and awareness of new share structure, but is a routine corporate action with moderate operational impact.