The company had earlier fixed Tuesday, October 28, as the record date for determining eligible shareholders for the sub-division of its equity shares.
As per standard market practice, the ex-date falls one trading day prior to the record date, which means the stock will trade ex-split on October 28. Therefore, to be eligible for the stock split, shares must be bought on or before today.
The sub-division of shares was approved by shareholders at the company’s 61st Annual General Meeting held on September 20.
According to a previous exchange filing, KSE Ltd stated that the equity shares of the company will be split from a face value of Rs 10 each to a face value of Rs 1 each. This means that every one existing equity share of Rs 10 will be subdivided into ten equity shares of Rs 1 each.
The purpose of this sub-division is to determine the entitlement of equity shareholders who are eligible to receive the split shares.All shareholders whose names appear in the register of members or in the records of the depository participants as beneficial owners as on the record date, October 28, will be entitled to receive the sub-divided equity shares.Investors looking to benefit from the stock split must ensure that they purchase shares of KSE Ltd. on or before the market close today.
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