“The Company hereby informs that it has fixed the ‘Record Date’ as Friday, October 18, 2024 for determination of rights of shareholders for the purpose of division/split-off of the existing equity shares of the Company, whereby one fully paid-up equity share of the Company having a face value of Rs 10 (Rupees Ten only) will be split into five fully paid-up equity shares of the Company having a face value of Rs 2 (Rupees Two only), ranking pari passu in all respects,” the company said in an exchange filing.
In other words, October 18th will be the date to determine the rights of eligible shareholders to be subject to the stock split.
In a 1:5 stock split, shareholders are given 5 shares for every 1 share they currently own. For example, in this case, the original share had a face value of Rs 10, but after the split, the new share will have a face value of Rs 2.
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According to data available with Trendlyne, the company has never conducted a stock split before, but this will be the first time the company will do so. HEG Ltd’s shares have surged 42.66% over the past year and are up 27.50% so far this year.(Disclaimer: The recommendations, suggestions, views and opinions expressed by the experts are their own. They do not represent the views of The Economic Times)
