Shriram Finance Stock Split: Shares of Shriram Finance are in the spotlight as investors gear up for the company’s 1:5 stock split, set to take effect tomorrow, January 10. Ahead of the upcoming stock split, the company’s stock is trading in a lower note today, with its shares as of 11:51 am IST trading at Rs 2,846.45 apiece, down by 1.80 percent. The shares of the company today opened the trading at Rs 2,903.75 apiece.
With a 1:5 stock split ratio, here are 6 key points you need to know about Shriram Finance’s upcoming corporate action
Shriram Finance’s stock split
In simple terms, stock split is a corporate action, when a company divides its existing shares into multiple new shares. In Shriram Finance’s case, each share with a face value of Rs 10 will be subdivided into five shares with a face value of Rs 2. While the total value of the shares will remain the same, the new lower price per share will make it more affordable for retail investors.
Record Date for stock split
Investors need to hold Shriram Finance shares before January 10, to be eligible for the stock split. This is the record date when the company will decide on which shareholders will qualify for the split.
Also Read: TCS shares in focus: Here are 5 things to know ahead of Q3 number
Ex-Date for stock split
Shriram Finance shares will start trading ex-split on January 10, and this also means that any purchase made on or after this date will not grant the buyer the benefits of the stock split.
Corporate Approval and Shareholder
The decision to split the stock was approved by shareholders through a postal ballot in December 2024.
“In furtherance to our earlier intimations dated October 25, 2024, November 20, 2024, December 20, 2024 on the captioned subject and pursuant to approval accorded by the Shareholders of Shriram Finance Limited (“the Company”) through Postal Ballot on December 20, 2024 for the Sub-division/Split of face value of Equity Shares of the Company and Regulation 42 of the Listing Regulations, the Company has fixed Friday, January 10, 2025 as the “Record Date” for determining entitlement of Equity Shareholders for the purpose of Sub-division/Split of face value of Equity Shares of the Company,” the company said through an exchange filing on December 23,
» Read More
