Bharat Global Developers Defers 1:10 Stock Split and 8:10 Bonus Issue Amid SEBI Review

Bharat Global Developers Ltd., formerly Kkrrafton Developers Ltd., has announced a temporary deferral of its proposed stock split and bonus issue. The decision follows an interim directive issued by the Securities and Exchange Board of India (SEBI) on December 23, 2024. The Company would have decided on a 1:10 stock split and 8:10 bonus issue on December 26.

Reason for Deferral

The move to postpone these corporate actions stems from ongoing regulatory scrutiny. SEBI’s interim order has prompted the company to prioritise compliance and transparency before proceeding with the record date for the proposed actions.

Focus on Compliance and Governance

The company has reiterated its commitment to adhering to regulatory requirements and maintaining high standards of corporate governance. After consulting legal and compliance teams, it decided to act proactively to align its operations with SEBI’s directives.

Impact on Shareholders

While the deferment may lead to temporary uncertainty, the company has reassured stakeholders that their interests remain safeguarded. Bharat Global Developers Ltd. aims to address SEBI’s concerns promptly and expects a fair resolution.

Next Steps

The company is actively cooperating with SEBI to resolve the matter. It has not yet announced a revised timeline for the stock split and bonus issue but has committed to keeping investors informed of further developments.

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