PC Jeweller shares in focus as co fixes record date for 1:10 stock split
PC Jeweller will be in focus after the company fixed December 10 as the record date for its proposed 1:10 stock split.
“This is to inform that pursuant to the Members’ approval obtained through Postal Ballot on November 21, 2024, the Board of Directors of the Company by means of a resolution passed by circulation today i.e. on November 28, 2024, has fixed Record Date as mentioned below for sub-division/split of equity shares of the Company, such that 1 (One) equity share having face value of Rs 10 each, fully paid-up, be sub-divided / split into 10 (Ten) equity shares having face value of Re 1 each,” the company said in its press release yesterday.
This is the first-ever instance of the company proceeding with a stock split, according to the data available on Trendlyne.
A 1:10 stock split means that one existing share with a face value of Rs 10 will be split into ten new shares with a face value of Rs 1.
Companies split their stocks to make shares more accessible to small investors, attract a broader range of shareholders, and enhance liquidity in the market.
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