1:10 stock split: Multibagger stock sets record date on March 4; Details here
The board of international logistics firm Tiger Logistics (India) had approved a proposal to split its shares in the proportion of 1:10, for which the record date has been set as March 4, 2024.
The end-to-end logistics company said that March 4 has been set as the cutoff/record date for ‘’determining the eligibility of Shareholders for the purpose of sub – division/split of each Equity Share having face value of Rs.10/- each into 10 (Ten) Equity Shares having face value of Re.1/- each.”
A stock split is a corporate action and happens when a company increases the number of its shares to boost the liquidity. The company issues additional shares to shareholders, increasing the total by the specified ratio based on the shares they held previously.
The most common split ratios are 2-for-1 or 3-for-1 (sometimes denoted as 2:1 or 3:1). This means for every share held before the split, each stockholder will have two or three shares, respectively, after the split.
‘’Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that pursuant to the shareholders’ approval obtained through postal ballot on 10th February, 2024, the Board of Directors of the Company has fixed Record Date as mentioned below in the table for the purpose of sub-division/split of 1 (one) Equity Share of the Company having a face value of Rs. 10/- each into 10 (Ten) Equity shares of the company having face value of Re. 1 each,” said Tiger Logistics (India) Ltd in a regulatory filing to the stock exchanges.
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Tiger Logistics India Limited is a BSE-listed leading international logistics company and solutions provider, covering freight forwarding, transportation and customs clearance. With an asset-light model, Tiger Logistics works with partners across the board to deliver timely movement of cargo around the world, according to its website.
Tiger Logistics was founded in 2000 in response to a need of a high-principled player in the Indian logistics sector. It carves out tailored solutions for its customers to manage their end-to-end logistics requirements. The company works as a logistics partner instead of just a vendor.
The company’s shares have delivered multibagger returns to investors– yielding as much as 1,523 per cent in the last three years and 341 per cent in the last two years. On Friday, shares of Tiger Logistics (India) settled 2.92 per cent higher at ₹809.35 apiece, against a 52-week high of ₹870 on the BSE.
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Published: 17 Feb 2024, 09:03 PM IST
