Shares of HEG Ltd fell by 5% to their day’s low of Rs 488.10 on BSE today after the stock started trading on an ex-split basis as the company had announced October 18 as the record date for their 1:5 stock split.
“We wish to inform you that the Company has fixed Friday, October 18, 2024 as the “Record Date” for determining entitlement of Equity Shareholders for the purpose of sub-division / split of existing Equity Shares of the Company, such that 1 (One) Equity Share of the Company of the face value of Rs. 10/- (Rupees Ten Only) each fully paid up be sub-divided/split into 5 (Five) Equity Shares of the Company of face value of Rs.2/- (Rupees Two Only) each fully paid up, ranking pari passu in all respect,” the company had informed in a previous filing to the exchanges.
This means that October 18, i.e., today is the date for the company to determine the entitlement of the eligible equity shareholders who will qualify for the share split.
A 1:5 stock split gives shareholders five shares for every one they currently own. For instance in this case, the original share had a face value of Rs 10, after the split, each new share will have a face value of Rs 2.
Prior to this, the company has never carried out a stock split and this will be the first instance of the company doing so, according to the data available on Trendlyne.
Also read: Manappuram Finance shares hit 15% lower circuit after RBI restrictions, multiple downgrades
On Tuesday, the company also announced that its board meeting will be held on November 13 in order to consider and approve the quarterly and half-yearly results for the period ending September 30.
The shares of HEG Ltd have surged 42% in the last one year, while increasing by 28.50% in the current year so far. In the last 2 years, the company’s stock has more than doubled giving 123.6% returns.
( Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
“We wish to inform you that the Company has fixed Friday, October 18, 2024 as the “Record Date” for determining entitlement of Equity Shareholders for the purpose of sub-division / split of existing Equity Shares of the Company, such that 1 (One) Equity Share of the Company of the face value of Rs. 10/- (Rupees Ten Only) each fully paid up be sub-divided/split into 5 (Five) Equity Shares of the Company of face value of Rs.2/- (Rupees Two Only) each fully paid up, ranking pari passu in all respect,” the company had informed in a previous filing to the exchanges.
This means that October 18, i.e., today is the date for the company to determine the entitlement of the eligible equity shareholders who will qualify for the share split.
A 1:5 stock split gives shareholders five shares for every one they currently own. For instance in this case, the original share had a face value of Rs 10, after the split, each new share will have a face value of Rs 2.
Prior to this, the company has never carried out a stock split and this will be the first instance of the company doing so, according to the data available on Trendlyne.
Also read: Manappuram Finance shares hit 15% lower circuit after RBI restrictions, multiple downgrades
On Tuesday, the company also announced that its board meeting will be held on November 13 in order to consider and approve the quarterly and half-yearly results for the period ending September 30.
The shares of HEG Ltd have surged 42% in the last one year, while increasing by 28.50% in the current year so far. In the last 2 years, the company’s stock has more than doubled giving 123.6% returns.
( Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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