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KPI Green Energy Announces 1:2 Stock Split: Last Day to Buy is Today
KPI Green Energy has set July 18 as the record date for its 1:2 stock split, making today the last day to purchase shares to qualify for the split, as the market is closed on July 17.
Back in May, KPI Green Energy announced its plan to split shares in a 1:2 ratio. This means each Rs 10 share will be split into two Rs 5 shares.
The company confirmed the record date for the split earlier this month. Investors need to buy shares before the record date to benefit from the split; purchases on or after July 18 won’t qualify.
“The Board of Directors of the Company has fixed Thursday, July 18, 2024, as the ‘record date’ for determining the eligibility of shareholders for the purpose of subdivision/split of equity shares having face value of Rs. 10 each, fully paid-up into 2 equity shares having face value of Rs. 5 each, fully paid-up,” the company stated in a filing to the stock exchanges.
Post-split, the company’s authorized share capital will change from 7 crore shares with a face value of Rs 10 to 14 crore shares with a face value of Rs 5.
The split aims to increase the liquidity of KPI Green Energy’s shares in the market and make them more affordable, encouraging participation from small investors.
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