Shriram Finance 1:5 stock split record date tomorrow: Last chance to buy
Following the standard T+1 settlement cycles in Indian stock markets, today marks the final trading day for investors to purchase Shriram Finance shares to be eligible for the stock split.
“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 in an exchange filing.
Shriram Finance had received shareholder approval through a postal ballot earlier in December 2024, to split each equity share with a face value of Rs 10 into five equity shares with a face value of Rs 2 each. This is aimed to enhance the stock's liquidity and make it more accessible to retail investors.
Stock splits are generally viewed positively by the market as they make shares more affordable and potentially increase trading volumes. While the company's market capitalization remains unchanged, the reduced price per share often attracts more retail participation.
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