Micro cap company Pradhin Limited has announced its entry into agricultural waste management and processing business. The aim of the company is to produce useful products from these wastes and reduce pollution. Apart from this, the company is also preparing to issue dividend, stock split and bonus shares. Today on January 8, a rise of 2.20 percent was seen in the shares of the company and this stock closed at the price of Rs 29.30 on BSE. With this rise, the market cap of the company has increased to Rs 67.35 crore.
What is the company’s plan?
The company said that its new venture will focus on converting agricultural waste into value-added products, which include biogas, compost, and biofertilizer. Apart from this, the company will also explore waste-to-energy solution, under which crop residues will be converted into renewable energy. This will reduce dependence on non-renewable resources and promote circular economy.
Board meeting will be held on January 17
The company’s board meeting is scheduled to be held on January 17, 2025, in which decisions on dividends, stock split and bonus share proposals will be taken. The company said in an exchange filing that it would consider an interim dividend of up to 100 per cent. Additionally, a decision will be taken on the proposal to issue bonus shares in the ratio of 2:1 to the eligible equity shareholders of the company.
The company has said in an exchange filing that it will also take a decision on the stock split proposal in the meeting. Under this, shares with face value of ₹ 10 per share will be split into equity shares with face value of ₹ 1 per share. The proposal is subject to the approval of the shareholders of the company, which will be obtained through postal ballot.
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