Stock split: Cellecor Gadgets announces a 10:1 stock split – Details

The current face value of Cellecor Gadgets share is Rs.10. Once the division comes into effect, the new face value will be Re 1.

“Division/division of 1 (one) share in the capital of the company having a face value of Rs 10 each into 10 (ten) shares in the capital of the company having a face value of Re 1 each,” according to the notification.

The spin-off is subject to shareholder approval and such other approvals as may be required.

The company also set the date for determining the shareholders’ right to participate in the division.

“The Board of Directors has fixed Friday, August 9, 2024, as the Record Date for the purpose of determining whether the Shareholders are eligible for the proposed distribution/distribution of the nominal value of the Company’s Equity Shares,” the filing added.

Stock splits are carried out to increase liquidity and make shares available to small investors and traders.

Cellecor Gadgets made its stock market debut in September 2023. The company issued its shares at Rs 92 per share in the primary market. As per the analysis, since its listing, the shares of Cellecor Gadgets have given a solid return of over 200.

(Disclaimer: The above article is for informational purposes only and should not be considered as any kind of investment advice. ET NOW DIGITAL suggests its readers/audiences to consult their financial advisors before making any money related decisions.)