Home / Markets / Stock Markets /  Multibagger small-cap stock revises record date for 10:1 stock split

Stock split 2022: The board of directors of Maximus International Ltd has changed record date for stock-split. The small-cap company has extended its stock subdivision record date from 3rd October 2022 to 4th October 2022. The small-cap company informed Indian bourses in this regard as well. The small-cap stock with a market cap of 46 crore has declared stock subdivision in the ratio of 10:1. 

As per the information available on BSE website, "Maximus International Limited, will be shifted to T+1 Settlement w.e.f. 30.09.2022 (Please refer to Exchange Notice No. 20220823-29 dtd. 23.08.2022). Therefore, the Ex-date (sub-divided paid-up value w.e.f) will now be 03.10.2022 instead of 30.09.2022."

Maximus International Ltd had earlier informed stock market exchanges about the new stock split record date citing, "In terms of Regulation 42 (2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has fixed Monday, 3rd October, 2022 as the ‘Record Date’ for the purpose of determining the eligibility of Shareholders for the purpose of sub-division of every 1 (One) fully paid-up Equity Share of the Company having face value of 10/- (Rupees Ten) each, into 10 (Ten) fully paid-up Equity Shares having face value of Re 1/- (Rupee one) each, as approved by the shareholders at the 7th Annual General Meeting of the Company held on 19th September, 2022."

The corporate action for rewarding its shareholders is taking place in this small-cap company after a gap of more than three years. In February 2019, Maximus International shares had traded ex-bonus stock as the company had announced bonus shares in the ratio of 1:1 that means one bonus share for each equity share held by its shareholders.

Maximus International share price history

Shares of Maximus International are one of the multibagger stocks that Indian stock market has produced in 2022. In YTD time, this small-cap stock has risen from around 95 apiece levels to 368 per share levels, ascending to the tune of 280 per cent in 2022. However, the multibagger stock has remained under sell-off heat in recent sessions after climbing to its life-time high of 480.50 per share on BSE in September 2022.


Asit Manohar

Chief Content Producer at Live Mint Digital Team
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