The two firms that have disclosed stock split issues are Radhe Developers (India) and Steel Exchange India Limited (SEIL). Radhe Developers declared July 15, 2022 as the record date for stock split, while SEIL has chosen July 13, 2022 as the record date. When a corporation splits its existing shares into a number of shares based on a ratio to make it more affordable to trade in the market, the stock split occurs on the record date which increases the number of shares the existing shareholders hold and Increases availability in the stock market, without changing the overall value of all outstanding shares of the company.
Radhe Developers (India)
The company in a stock exchange filing said that “With reference to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Company has, on Friday, the 15th July, 2022, with a face value of Rs. 1 (a) Record date for ascertaining the entitlement of entitled shareholders for the purpose of split/sub-division of equity shares.10/- (Rupees ten only) in equity shares of face value of Rs.10 (ten) each. 1/- (Rupee one only) each.”
Share closed on Friday 224.40 level down 4.96% from its previous close 236.10. stock gains 10.05, or 2,132.84 percent, from its price on July 12, 2021, to its current level during the previous year. However, the stock has lost 27.23 per cent on a year-on-year basis so far in 2022.
Steel Exchange India Limited (SEIL)
The Board of the Company has stated in the BSE filing that “In accordance with Reg. 42 of the Listing Regulations and relevant provisions of the Companies Act, 2013 and rules made thereunder, the Company has decided to determine the record date for the sub-division/split of each equity has fixed Wednesday, the 13th July, 2022 as the record date. Shares having a face value of Rs.10/- (Rupees ten only) each, wholly in ten (10) equity shares having a face value of Rs. 1/- (Rupee one only) each fully paid.”
Stock climbed 4.99 percent from its previous close 205.30 and closed 215.55 on Friday. SEIL shares rise 68.65 represents a multibagger return of 213.98 per cent, up to the current level during the previous year till July 12, 2021. The stock has gained 14.56 per cent YTD so far in 2022.