Infrastructure company RDB Realty and Infrastructure has announced a stock split. The board of directors of the company has approved a stock split in the ratio of 1:10. Thus, the existing equity share would be sub-divided into ten equity shares. This is the first-ever stock split by the company.
"Sub-division/Stock Split of existing 1(One) Equity Share of Face Value of Rs. 10/- (Rupees Ten only) each into 10 (Ten) Equity Shares of Face Value of Re. 1/- (Rupee One Only) each fully paidup, subject to approval of Members of the Company," the company had informed exchanges in a filing.
1:10 Stock split: Record date
The company has fixed a record date for this corporate action. A record date is important as it helps organisations to identify the eligibility of shareholders for a corporate action.
It has informed exchanges that the record date has been fixed as February 28, 2025.
"Board of Directors of the Company, through a Resolution passed by Circulation, has approved and fixed Friday, 28th February, 2025 as the Record Date, for the purpose of determining the eligibility of Members of the Company, for Sub-division," the filing reads.
The company has also shared an update regarding the upcoming stock split. RDB Realty and Infrastructure has stated that the sub-division of equity shares will take effect under the new ISIN i.e., INE245L01028. The company has received the ISIN activation letter from the National Securities Depository Limited and Central Depository Services (India) Limited.
The stock of the company, which is engaged in the development of residential, and commercial projects, opened in green today at Rs 554.95 on the BSE against the previous close of Rs 551.15.
Meanwhile, equity benchmark indices Sensex and Nifty rebounded in early trade on Tuesday amid value buying at lower levels after falling sharply in the last five trading sessions.
The 30-share BSE benchmark Sensex climbed 117.57 points to 74,571.98 in early trade. The NSE Nifty went up 31.3 points to 22,584.65.
Later, the BSE benchmark quoted 272.39 points higher at 74,725.89, and the Nifty traded 47.45 points up at 22,600.80.