Fedders Holding Announces Equity Share Subdivision Amid Financial Growth

Fedders Holding Limited announces the subdivision of its equity shares to improve market accessibility and liquidity. Set for September 20, 2024, this move follows significant financial gains and increased promoter shareholding, underscoring the company's commitment to shareholder value and its strategic growth initiatives.

ATK New Delhi [India], September 17: Fedders Holding Limited, a notable entity in the iron ore mining and steel industry, has announced the subdivision of its equity shares. This initiative aims to bolster market accessibility and liquidity for its shareholders. The company has earmarked September 20, 2024, as the 'Record Date' to establish shareholder eligibility for this subdivision.

Additionally, Fedders Holding Ltd. has shown exceptional financial performance. The company recorded a financial growth of Rs. 94 crore in the fiscal year 2023-24. In the first quarter of FY2024, the company achieved a profit of Rs. 5 crore on sales amounting to Rs. 74 crore, compared to a Rs. 20 crore profit on sales of Rs. 142 crore in Q1 FY2025. This notable increase underscores the company's operational efficiency and market expansion efforts. Moreover, the promoter shareholding has risen by 2.40%, reflecting the firm's long-term growth potential and its strategies to drive shareholder value.

Fedders Holding Ltd. remains committed to its shareholders by ensuring transparency and setting record dates at least 30 days before any stock-related activities. With this subdivision, Fedders aims to leverage its robust foundation, facilitating sustainable and vigorous growth as it expands its domestic and international footprint.

Fedders Holding Ltd. is a leading corporate entity focused on the steel sector, with plans to establish a fully integrated TMT Steel Plant encompassing everything from iron ore mining to TMT bars manufacturing under one group. The company has been in the steel business for over 25 years and was acquired by Rakesh Singhal, a respected businessman with 40 years of industry experience. The promoters are also the leading manufacturers of LPG cylinders in India, commanding the largest market share.

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(With inputs from agencies.)