This company declares interim dividend along with Q2 results, check amount and other details

Share India Securities Ltd, a company providing algo trading solutions, released four important pieces of information after market hours last Thursday. As of 10:17 am today, the company’s stock was trading at Rs 191.48, down 4.18% or Rs 8.35 on the NSE, while on the BSE, the stock was trading at Rs 191.95, down 3.83% or Rs 7.65. However, this stock has given a return of 979 per cent in the last five years.

The company’s board members have approved raising funds up to US$50 million (approximately ₹420 crore) through the issuance of Foreign Currency Convertible Bonds (FCCBs). The funds will be raised through a private placement. However, this decision will be implemented subject to the approval of shareholders and the necessary regulatory authorities.

“Approved the proposal for incorporation of a new subsidiary with the proposed name of Share India
Greyhill Private Limited or such other name as may be approved by Registrar of Companies (‘Proposed
Subsidiary’), and to make an investment up to Rs. 6,00,00,000/- (Rupees Six Crore Only) in the equity
shares of the proposed Subsidiary Company.”

The company’s board members have declared a second interim dividend of Rs 0.40 per equity share with a face value Rs 2 each.

“Declared 2nd interim dividend of ₹0.40/- (Forty Paisa only) per equity share having face value of ₹2/- (Rupees Two only) each,” the company said in an exchange filing.

The company’s net profit in the July-September quarter fell 25 per cent to Rs 93.22 crore. Its net profit in the same quarter an year ago was Rs 124.26 crore. Revenue from core operations also declined 24.6 per cent to Rs 340.95 crore, compared to Rs 452.75 crore in the same quarter last fiscal year.

The Company has approved a proposal to form a new subsidiary company to be named Share India Greyhill Private Limited (or such other name as may be approved by the Registrar of Companies).

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