Ashish Kacholia’s portfolio stock Fineotex Chemical will remain in focus in Monday’s trading session after the company successfully held Extraordinary General Meeting on Saturday, October 25.
Fineotex Chemical share price was up 3.31 per cent, closed at ₹255.99 apiece on Friday. The chemical stock has been trading in green in the near-term, soared over 5.56 per cent in five days and 2.12 per cent in a month.
Fineotex Chemical EGM details
In an exchange filing dated October 25, the company announced the successful conclusion of its Extraordinary General Meeting (EGM) held on Saturday via video conferencing.
During the meeting, shareholders overwhelmingly approved all three proposals — the issuance of bonus shares, the subdivision of equity shares, and an increase in authorized share capital.
“We wish to inform you that the Extraordinary General Meeting (“EGM”) of the members of Fineotex Chemical Limited was held on Saturday, October 25, 2025 at 03.00 PM (IST) through Video Conferencing/Other Audio Visual Means, where all the resolutions as set out in the Notice convening the said EGM have been transacted,” the company said in the filing.
According to a regulatory filing, each resolution received 99.99 per cent votes in favor, demonstrating strong investor confidence. A total of 74,267,628 votes were cast, representing 64.82 per cent of the company’s outstanding equity.
The company said that promoters, public institutions, and non-institutional investors all supported the proposals, with minimal dissent. The e-voting process and its outcome were verified by scrutinizer Mr. Hemant Shetye of HSPN & Associates LLP and subsequently reported to the BSE and NSE in compliance with SEBI (LODR) Regulations, 2015.
On September 27, 2025, the Board of Directors had proposed a stock split — dividing one equity share of ₹2 each into two equity shares of ₹1 each — along with the issuance of bonus equity shares in the ratio of 4:1, meaning four bonus shares of ₹1 each for every one equity share held. The record date for these corporate actions will be announced later.
After the share subdivision, the company’s paid-up and subscribed capital will increase from 11,45,75,090 shares to 22,91,50,180 shares, with a corresponding adjustment in face value.
The authorized share capital will also be revised from 14,00,00,000 shares of ₹2 each to 120,00,00,000 shares of ₹1 each. Subject to regulatory approvals, the company aims to complete this corporate action by November 25, 2025.
The bonus shares will be issued using the Securities Premium Account, which had a balance of ₹91.66 crore as of March 31, 2025. Following the bonus issue, the authorized share capital will remain at 120,00,00,000 shares of ₹1 each, while the paid-up and subscribed capital will increase from 22,91,50,180 shares to 114,57,50,900 shares.
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