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PNN
Mumbai (Maharashtra) [India], January 23: Inspire Films Limited. (NSE - INSPIRE), a leading content creation and production company, has announced a significant financial move by doubling its authorized capital from Rs15 Cr to Rs30 Cr. This decision aims to meet the rising fund requirements driven by the company's expanding business. In addition, the company has declared a stock split to improve equity share liquidity. The face value of its equity shares will be split from Rs10 each to Rs1 each in a 1:10 ratio. Consequently, the authorized capital will increase to Rs30 Cr equity shares of Rs1 each, aligning with the company's growth strategy. The capital augmentation comes as the company secures multiple mid- and large-scale projects in the television and OTT segments. This strategic decision underscores its commitment to scaling operations, enhancing its footprint in the entertainment industry, and delivering high-quality content. By strengthening its financial foundation, the company aims to elevate its market position and build a strong brand reputation in the competitive entertainment sector. Commenting on this, Yash Patnaik, Managing Director of Inspire Films Limited, said, "We are pleased to announce these strategic decisions that will significantly enhance our financial position and support our growth trajectory. The increase in authorized share capital and the sub-division of equity shares reflect our commitment to strengthening the company's financial flexibility, enabling us to take on larger projects and better manage working capital requirements. By making our shares more accessible to retail investors, we aim to improve liquidity and broaden our shareholder base, which is essential for our continued success." (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)
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