which are the two companies
The stock split has been announced by Saregama India Limited and Pro Fin Capital Services Limited. Both the companies are going to split shares this week. Earlier this month, on April 6, 2022, the Board of Directors of Saregama India announced a 1:10 stock split with a record date of April 27, 2022 and Pro Fin Capital Services on April 18, 2022 with a ratio of 1:10. announced the split of shares in Its record date for share split is April 29, 2022.
Shares will become 10 times
Both Saregama India Limited and Pro Fin Capital Services Limited have announced a split of shares in the ratio of 1:10. With this, the number of people who will have shares in these companies will be 10 times the number of shares. Whoever has 10 shares will have 100 shares.
Saregama India Limited
Saregama India Limited had said in an exchange filing that Wednesday, April 27, 2022 has been fixed as the record date for determining the eligibility of shareholders to 2022. The company will split the shares with a face value of Rs 10 each into 10 equity shares of Rs 1 each. The company has obtained approval from the shareholders for this.
Pro Fin Capital Services Limited
The Company has confirmed by informing BSE that “in accordance with Regulation 42 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, the Company has set Friday, April 29, 2022 as the “Record Date”. The date is for sub-division of equity shares in which the shares of Rs.10 each will be divided into 10 shares of Rs.1 each.
understand full multiplication math
Generally, the face value (basic value) of shares of any company is Rs 1, 2, 5 or Rs 10 only. The face value of the shares of both these companies is Rs 10. 1-1 Rs.10 of 1 share will be divided on the basis of face value. Due to this, according to the rate running of the shares in the market, their real time value will also be divided by 10. Typically a company splits its stock when the market price per share is high enough that investors avoid trading in it. Very high share prices deter small investors from buying shares. Stock splits are usually done after a large jump in the share price.