BSE notifies multibagger stocks' split in 1:10 ratio. Record date, other details
3 min read 27 Mar 2023, 12:32 PM ISTMultibagger stock: Small-cap company has fixed record date for stock subdivision on 31st March 2023
PremiumMultibagger stock: Shares of Artemis Electricals and Projects Limited are one of the multibagger stocks that Indian stock market has produced in recent years. The board of directors of the small-cap company has fixed record date for stock split on 31st March 2023. The small-cap company board has already declared stock subdivision in 1:10 ratio means one stock of the company will be divided in 10 fresh paid-up capitals of the BSE listed company. To make these company announcements official, the BSE has issued notification in this regard confirming company's stock subdivision in 1:10 ratio.
Issuing notification in regard to stock split record date, BSE notice said, "Trading Members of the Exchange are hereby informed that Artemis Electricals and Projects Limited., has fixed Record Date for the purpose of Sub-Division of the Equity Shares of the company." The BSE notice went on to add that stock subdivision of the existing equity shares will be done from one equity share of ₹10/- each into ten equity shares of Re. 1/- each." The notice went on to add that record date for stock subdivision has been fixed on 31st March 2023.
In recent exchange communication with BSE, the multibagger stock informed BSE about stock split record date citing, "In accordance with Regulation 42 of the SEBI (LODR) Regulations, we refer to our letter dated December 27th, 2022, in which we notified the announcement related to the record date for the split of Ordinary (equity) Shares until March 31st, 2023, and our letter dated September 08th, 2022, in which we informed the recommendation of the Board subject to the approval of shareholders for the sub-division of the Ordinary (equity) Shares of face value ₹10/- (Rupees Ten) each into Ordinary (equity) Shares of face value of ?1/- (Rupee one) each. We would now like to inform you that the Company has fixed Friday, March 31, 2023, as the 'Record Date' for the purpose of determining the eligibility of shareholders for the sub-division of the Ordinary (equity) Shares of face value ₹10/- (Rupees Ten) each into Ordinary (equity) Shares of face value of ₹1/- (Rupee one) each, as approved by the shareholders at the 13th AGM of the Company held on September 30, 2022. Kindly take the same on record."
Artemis Electricals share price
In last one month, this multibagger stock has risen to the tune of 21 per cent whereas in YTD time, this small-cap stock has surged around 90 per cent. However, in last one year, this small-cap stock has risen more than 130 per cent, delivering multibagger return to its long term shareholders.
