1:2 stock split: Multibagger stock Servotech Power Systems sets record date after rising 3200% in two years
Multibagger stock has fixed record date on 28th July 2023 for stock split in 1:2 ratio
PremiumStock split 2023: Shares of Servotech Power Systems Ltd is one of the multibagger stocks that Indian stock market has produced in recent years. This small-cap stock has risen from around ₹5 to ₹165.75 apiece levels, logging near 3200 per cent rise in the last two years. However, this is not the end of good news that the company has. The board of directors of the company has declared stock split in 1:2 ratio. Apart from this, the small-cap company's board has set record date for stock split on 28th July 2023 to finalise the eligible shareholders for stock split benefit.
Servotech Power Systems stock split record date
The small-cap company informed Indian stock market bourses about the stock split record date citing, "In accordance with the provisions of Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations") and other applicable provisions, if any, we would like to inform you that the Register of Members & Share Transfer Books of the Company will remain closed from Saturday, 29th July, 2023 to Friday, 4th August, 2023 (both days inclusive)for ascertaining the entitlement of shareholders of the Company for the purpose of sub-division (split) of Equity Share of the Company having a face value of Rs. 2/- (Rupees Two only) each (fully paid-up) into Two (2) Equity Shares of face value of Rs. 1/- (Rupees One only) each (fully Paid-up). Further, Friday, 28th July, 2023 has been fixed as Record Date for the aforesaid purpose."
Servotech Power Systems stock split 2023
In an earlier exchange communication, the small-cap company had informed Indian exchanges about stock split decision citing, “The Board of Directors of Servotech Power Systems Limited (“Company"), upon recommendation of its sub Committees, at its meeting held on 25th May, 2023 has inter-alia considered, approved the sub-division (split) of Equity Share of the Company having a face value of Rs. 2/- (Rupees Two only) each (fully paid-up) into Two (2) Equity Shares of face value of Rs. 1/- (Rupees One only) each (fully Paid up)."
Servotech Power Systems share price history
This multibagger stock has been in uptrend after ushering in new financial year 2023-24. In YTD time, this multibagger stock has risen from around ₹32 to ₹165.75 apiece levels, logging near 450 per cent rise in this time. In last one year, this small-cap multibagger stock has risen from near ₹12.65 to ₹165.75 apiece levels, logging around 1250 per cent rise in this time. However, the stock has risen around 3200 per cent in the last two years. So, this stock is one of those money making stocks that has delivered whopping return to its long term positional investors.
"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!
