Stock split 2024: Shares of OK Play India Ltd will be in focus when the stock market opens on March 11 (Monday).
The Board of Directors of OK Play India declared shares split by one ₹10 per equity share in ten of ₹1 per equity share for its eligible shareholders.
The company’s record date to ascertain the eligibility of shareholders for the stock split was set on March 11.
Share split of OK Play India 2024
In a stock exchange filing, OK Play India said: “We wish to inform you that the Board of Directors during its meeting today has agreed to subdivide/split the Equity Shares of the Company, Division of each 1 (one) equity share of the nominal/nominal value of Rs. 10/- (Rupees ten only) each in 10 (Ten) equity shares of the face/ face value of Rs. 1/- (Rupees One only) each.”
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“….the Company has fixed Monday, March 11, 2024 as the “Record Date” to determine the right of Equity Shareholders for the purpose of sub-division/division of existing Equity Shares of the Company, so that 1 (one) equity share having a face value of Rs. 10/- (Rupees ten only) each, fully paid up, will be subdivided into 10 (ten) equity shares having a face value of Re. 1/- (Rupees one only) each,” the company said in a separate stock exchange archive.
Shares of OK Play India Ltd will trade ex-dividend on Monday.
What is a stock split
A stock split or subdivision of shares is a corporate action. It occurs when a listed company raises the number of its shares to boost the liquidity of the shares.
The number of shares outstanding increases by a specific multiple, but the total currency value of all shares outstanding remains the same because there is no change in the total market capitalization of the company.
For example, if a company has declared a stock split in the ratio of 1:2, this means that for every share of stock held before the split each shareholder will have two shares of stock after the split.
A stock split is declared when a company decides to intentionally lower the price of its stock, making it more affordable for investors without losing the value.
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Published: 11 Mar 2024, 06:30 IST