Stock split 2024: Tiger Logistics India shares to trade ex-split today
Stock split 2024: Shares of Tiger Logistics (India) Ltd will be in focus when the stock market opens on Monday (March 04). The Board of Directors of the company has declared a stock split for the eligible shareholders. The company has declared a stock split in the ratio of 1: 10 that means from ₹10 per equity share to ₹1 per equity share.
The record date to ascertain the eligibility of shareholders for the stock split has been fixed on March 04. In a stock exchange filing, Tiger Logistics (India) Ltd said: “Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that pursuant to the shareholders’ approval obtained throughpostal ballot on 10th February, 2024, the Board of Directors of the Company has fixed Record Date 4th March, 2024 for the purpose of sub-division/split of 1 (one) Equity Share of the Company having a face value of Rs. 10/- each into 10 (Ten) Equity shares of the company having face value of Re.
1 each." Shares of Tiger Logistics (India) Ltd will trade ex-split on Monday. Tiger Logistics (India) Ltd shares closed at ₹690.40, down 9.68%, on the BSE on Saturday (March 02). A stock split or sub division of shares is a corporate action.
It happens when a listed company hikes the number of its shares to boost the stock’s liquidity. The number of shares outstanding increases by a specific multiple, but the total currency value of all shares outstanding remains the same as there is no change in the company’s total market capitalization. For example, if a company has declared a stock split in the ratio of 1:2, that means for every equity share held before the split each shareholder will have two equity shares after the split.
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