The board of Jindal Saw Ltd will meet on August 14 to consider the sub-division of its equity shares or a stock split, it said in an exchange filing on Wednesday.
Jindal Saw plans to split its equity shares having a face value of ₹2 into shares with a face value of ₹1.Udabur Stock
Record dare for the said corporate action is yet to be determined.Lucknow Wealth Management
“This is to inform that a meeting of Board of Directors of the Company will be held on Wednesday, 14th August, 2024, at New Delhi, inter-alia, to consider and approve the proposal for alteration in the equity share capital of the Company by sub-division/split of existing equity shares having face value of ₹2/- each, fully paid up into face value of ₹1/- each, fully paid up,” it said.
The company informed that its trading window will remain closed from August 7, 2024, to August 16, 2024, (i.e. up to 48 hours from the time of disclosure of above information to the stock exchanges).
This will be the second stock split for the company after a gap of nearly 15 years. Last time, Jindal Saw had approved a stock split in December 2009.Ahmedabad Stock
Generally, a stock split is considered by a company to increase its outstanding shares, and also improve trading liquidity by making the stock more affordable to its shareholders.
Lucknow Stock