STOCK SPLIT: Sudarshan Pharma Industries, a smallcap company from the pharma sector, has announced to split its equities and also set the record date.
The sub-division will take place in the ratio of 10:1, meaning each share will split into 10 shares.
The current face value of each share of the pharma company is Rs 10. One the split taken effect, the new face value would be Re 1.
Sudarshan Pharma Stock Split Record Date
The company has announced that November 18 will be considered as the record date for determining the eligibility of shareholders’ participation in the said corporate action.
“The Board of Directors of the Company has fixed Record Date (November 18) for the purpose of sub-division / split of 1 (one) Equity Share of the Company having face value of Rs 10 each into 10 (Ten) Equity shares of the company having face value of Re 1 each,” the company said in a filing on Thursday.
Sudarshan Pharma Share Price History
Sudarshan Pharma Industries is engaged in specialty chemicals and intermediates for pharma, agro chemicals, paints, adhesive and various other industries. The company had floated its IPO in March 2023 and issued its shares at Rs 73 apiece.
The pharma major’s shares closed in the red on Thursday at Rs 402.50 apiece on the BSE. As per analytics, the pharma stock has delivered a multibagger return of 136 per cent in just three months. In six months, the stock has skyrocketed a massive 454 per cent.
What Is Stock Split?
A stock split is one of corporate actions wherein a company splits the face value of equity shares in order to boost the liquidity. Once the split takes effect, the total number of shares are increased in the secondary market and its price is adjusted in the split ration. As a result, the stock becomes cheaper and affordable to small investors or traders.
The corporate action has no impact on the company’s market cap and the investment of shareholders.
