Later in the month of August, the company announced that the record date for the purpose of the bonus issue has been fixed as August 27.
“This is to inform you that the Company has fixed Tuesday, August 27, 2024, as the ‘Record Date’ for determining entitlement of Shareholders of the Company for the purpose of sub-division/ split of the Equity Shares of the Company, such that 1 equity share having face value of Rs. 10/- each, fully paid-up, will be subdivided into 10 equity shares having a face value of Re. 1/- each, fully paid-up as approved by the shareholders in the Annual General Meeting held on Friday, August 02, 2024,” said the company in a filing to the exchanges.
The 1:10 stock split means that for every share of the face value of Rs 10, the eligible shareholders would have 10 shares of the face value of Re 1 post the split.
The split was announced in order to enhance the liquidity of the company’s shares and make it more affordable for the participation of retail and small investors.A stock split is when a company increases the number of its shares by lowering the price of each share. This is usually done to make the shares more affordable and increase trading activity.This is the first-ever instance of the company carrying out a stock split as per the data available on Trendlyne.As of quarter ended June 2024, 52% of the equity of the company was held by the promoters and the promoter group while the remaining 48% rests in the hands of public shareholders including the star investor Ashish Kacholia, who holds nearly 1.6% of the company’s equity.
The shares of Aditya Vision have more than doubled in the last one year and multiplied by approximately 4 times in the last 2 years. In the current year so far, the stock has gained 41%.
Shares of Aditya Vision closed 1.5% higher at Rs 4,870 on BSE on Friday.
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