PG Electroplast 10:1 stock split: Last day today to buy shares to qualify before record date

PG Electroplast has announced July 10 as the record date for its 10:1 stock split. Investors need to buy shares today to qualify for the split, which aims to increase liquidity and shareholder base.

had announced July 10 as the for the purpose of its 10:1 , meaning that today is the last day to buy the shares in order to be eligible for the split shares.

In May, PG Electroplast had announced that it will be splitting its shares in the ratio 10:1, which means that for every share having of Rs 10, there will now be 10 shares having face value of Re 1.

The record date for the purpose of the split was later announced in June. Investors who purchase the stock on the record date are not eligible to avail the benefit of the split.

“Company has fixed “Wednesday, July 10, 2024” as the “Record Date” for the purpose of ascertaining the eligibility of shareholders entitled for Sub-division/ Split of existing of the Company from 1 (One) Equity Share having face value of Rs. 10/- each (Rupees Ten Only) fully paid-up into 10 (Ten) Equity Shares having Face Value of Rs. 1/- each (Rupee One Only) fully paid up,” said the company in a filing to the stock exchanges.

As per the authorised share capital, 3.5 crore shares of the company with a face value of Rs 10 will stand at 35 crore shares with a face value of Re 1.

The rationale behind the split is to enhance the liquidity of the equity shares in the capital market and widen the shareholder base.

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A pioneer and leading provider of in India, PG Electroplast was incorporated in 2003 as the flagship company of PG Group. The company’s areas of specialisation include original design manufacturing (ODM), original equipment manufacturing (OEM) and plastic injection moulding.

Shares of PG Electroplast closed 0.6% higher at Rs 3,715 on BSE on Monday.

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Source: Stocks-Markets-Economic Times