Stock split 2023: Small-cap stock sets record date for 1:2 stock subdivision. Details here

livemint.com:

Stock split 2023: Shares of Rudra Global Infra Products Ltd are one of those stocks on BSE that has hit upper circuit during Thursday deals. In fact, this small-cap stock has locked-in 5 per cent upper circuit on all sessions this week.

However, the stock is in news these days for setting record date for stock split. The board of directors of the company has fixed 18th October 2023 as record date for stock split.

Earlier, the small-cap stock had informed Indian stock market bourses about stock split in 1:2 ratio. The small-cap stock informed about stock split record date citing, "In terms of Regulation 42 of the SEBI Listing Regulations, the Company has fixed Wednesday, October 18, 2023 as the ‘Record Date’ for the purpose of determining the eligibility of Shareholders for the purpose of sub-division /split of existing equity shares and issue of Bonus Equity Shares of the Company." On reason for fixing stock split record date, the small-cap stock said, "Purpose of stock split record date is determining the eligibility of Shareholders for the purpose of sub-division /split of every one fully paid-up Ordinary (equity) share having face value Rs.

10/- (Rupees Ten only) each in the share capital of the Company, into two (2) fully paid-up Ordinary (equity) shares having face value Rs. 5/- (Rupees Five only) each." Multibagger stock climbs to life-time high after Q2 results 2023.