Varun Beverages 2:5 stock split record date tomorrow; last day to buy for eligibility
franchise partner Varun Beverages announced September 12 as the record date for its 2:5 stock split, which means that the stock will trade on an ex-split basis from tomorrow.
This means that the shareholders whose names appear in the company's database on the record date are eligible for the said stock split.
“The Board of Directors fixed Thursday, September 12, 2024, as the 'Record Date' for determining entitlement of Equity Shareholders for the purpose of sub-division / split of existing Equity Shares of the Company, such that each Equity Share having face value of Rs. 5/- each fully paid-up, be subdivided/split into such number of Equity Shares having face value of Rs. 2/- each fully paid-up,” said the company in a filing to the exchanges.
The stock split implies that the authorized share capital of the company is Rs 1,000 crore divided into 2,000 crore shares of face value of Rs 5 each will now be equivalent to Rs 1,000 crore divided into 500 crore shares of face value of Rs 2 each.
Also read: Arkade Developers' Rs 410-cr IPO to open on Sep 16; sets price band at Rs 121-128/share
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