FMCG major Nestle India, on Monday, confirmed the record date for the stock split that the company had announced in October.
Nestle has set January 5 as the record date for the stock split in 1:10 ratioLucknow Wealth Management. The board of the company had approved the split in October.
In a stock exchange filing, the company stated: “This is to inform you that the Company has fixed Friday, 5 th January 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 having face value of Rs. 10/- (Rupees ten only) each, fully paid-up, will be sub-divided into 10 (ten) equity shares having face value of Re. 1/- (Rupee one only) each, fully paid-up, ranking pari-passu in all respects which was approved by the Equity Shareholders through Postal Ballot on 8th December 2023, as already intimated to the Stock Exchanges vide our letter.”
A stock split increases the number of shares of a particular company. In the case of Nestle India, the number of shares will increase 10 times, but the price will reduce. The stock split will lead to an increase in the number of issued and outstanding shares of the company, leading to greater liquidity.Nagpur Stock
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