Aditya Vision, backed by prominent investor Ashish Kacholia, saw its shares surge 5% to close at ₹4,401 on the BSE today. The rise came after the company announced that August 27, 2024, will be the record date for its upcoming stock split.
The stock split will be in the ratio of 1:10, meaning that for every share with a face value of ₹10, shareholders will receive 10 shares with a face value of ₹1 each after the split.
In an official statement, the company confirmed, “Tuesday, August 27, 2024, has been set as the record date for determining the shareholders eligible for the stock split. Each share with a face value of ₹10 will be split into 10 shares with a face value of ₹1, as approved by the shareholders in the Annual General Meeting held on Friday, August 02, 2024.”
The decision to split the shares was first announced in July, with the aim of increasing the liquidity of the company’s shares and making them more affordable for retail and small investors.
A stock split occurs when a company increases the number of its shares while reducing the price of each share. This is usually done to make the shares more accessible and to boost trading activity. According to Trendlyne data, this is the first time Aditya Vision has conducted a stock split.
Over the past year, Aditya Vision’s shares have risen by 90%, and they have gained 27.6% so far in the current year.
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