IT stock fixes record date for 1:10 stock split. Details here
- Debt-free company will trade ex-split on Friday this week
Saksoft stock split: The board of directors of IT company, Saksoft Ltd has fixed record date for stock split. The board of debt-free company has fixed 26th September 2022 as record date for subdivision of company stocks. The digital service provider company has already approved and declared stock split in 1:10 ratio announcing subdivision of existing equity shares from one equity share of ₹10 each into 10 equity shares of ₹1 each.
As per the information available on BSE website, "Trading Members of the Exchange are hereby informed that SAKSOFT LTD., has fixed Record Date for the purpose of subdivision of Equity Shares of the Company on 26/09/2022." This means It stock will trade ex-split on Friday this week as Saturday and Sun day are stock market holidays.
Informing stock market exchanges about the record date for stock split, Saksoft Ltd said, "Pursuant to Regulation 42 of the SEBI (Listing Obligation and Disclosure Requirement) Regulations, 2015, the Company has fixed Monday, September 26, 2022 as the 'Record Date' for the purpose of ascertaining the eligibility of the shareholders entitled for subdivision of 1 (One) equity share of the company having a face value of ₹10/- (Rupee Ten Only) each fully paid up into 10 (Ten) equity shares having a face value of Re 1 (Rupee One only) each fully paid up."
In Q1 FY23, the IT company reported a revenue growth of 6 per cent on sequential basis and 45 per cent year over year basis. It's EBIDTA grew by 44.50 per cent in first quarter of the financial year 2022-23.
Commenting on the Q1FY23 results, Aditya Krishna, Chairman & Managing Director, Saksoft Limited, said: “We are pleased to share that we commenced this fiscal year on a strong note in the first quarter with a revenue growth of 6% sequential and 45% year over year. As we continue to focus on our ‘Inch wide Mile Deep’ philosophy, we are also proactively managing the costs. We have been successful in carving a larger share of IT spend from our customers – this is evidenced by revenues from our Top 20 customers increasing to 74% of our total revenues. Our efforts on growth and margins are all steered to reach our guidance of becoming a 100Mn $ company by 2025.”
Saksoft Ltd is a leading digital transformation solution partner for Fintech, Transportation & Logistics, Retail E-commerce, Health care and Telecom customers worldwide.
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