Saksoft Board Fixes Record Date For 1:10 Stock Split

Saksoft stock split: The record date for the stock split has been set by Saksoft Ltd.’s board of directors. The board of a debt-free corporation set September 26, 2022, as the record date for stock division. The supplier of digital services has previously authorised and announced a stock split in a ratio of 1:10, announcing the division of existing equity shares from one equity share worth ₹10 per share to ten equity shares worth ₹1 each.

Trading Members of the Exchange are thus advised that SAKSOFT LTD., has determined Record Date for the purpose of subdivision of Equity Shares of the Company on September 26, 2022, in accordance with information available on the BSE website. This implies that because Saturday and Sunday are stock market holidays, It stock will trade ex-split on Friday this week.

Informing stock market exchanges about the record date for stock split, Saksoft Ltd said, “Pursuant to Regulation 42 of the SEBI (Listing Obligation and Disclosure Requirement) Regulations, 2015, the Company has fixed Monday, September 26, 2022 as the ‘Record Date’ for the purpose of ascertaining the eligibility of the shareholders entitled for subdivision of 1 (One) equity share of the company having a face value of ₹10/- (Rupee Ten Only) each fully paid up into 10 (Ten) equity shares having a face value of Re 1 (Rupee One only) each fully paid up.”

The IT firm recorded a revenue rise of 6% on a sequential basis and 45% on an annual basis in Q1 FY23. The company’s EBIDTA increased by 44.50% in the first quarter of the fiscal year 2022–23.

Aditya Krishna, Chairman & Managing Director of Saksoft Limited, commented on the results for the first quarter of FY23, saying: “We are glad to inform that we started this fiscal year on a strong note in the first quarter with a revenue growth of 6% sequential and 45% over last year. We are actively minimising the costs while keeping our “Inch Wide, Mile Deep” concept in mind. Our Top 20 clients now account for 74% of all of our sales, showing that we have been effective in securing a higher portion of their IT spending. Our growth and profitability initiatives are all directed at achieving our goal of being a $100 million company by 2025.

Saksoft Ltd. is a top provider of digital transformation solutions for clients in the global Fintech, T&L, retail, healthcare, and telecom industries.

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