Nestle India Witnessing Share Price Decline Following 1:10 Stock Split in 2024
In 2024, Nestle India Board Sets Record Date on 5th January for Stock Subdivision
Stock split 2024: Early Morning Selling Pressure on Nestle India Post Stock Split in 2024; Share Price Sees 2% Dip After Record Date Announcement.
Nestle India encountered selling pressure in early morning trades on Friday following its ex-split status, resulting in a dip of nearly 2% from Thursday's close of ₹2,711.60 to an intraday low of ₹2,657 per equity share on the BSE.
Investors and market observers are closely watching the FMCG stock, anticipating increased accessibility as a result of the stock split. The board of directors at Nestle India Limited has officially declared the record date for the stock subdivision to be 5th January 2024, implementing a 1:10 ratio. This means that each Nestle India share, originally having a face value of ₹10 per equity share, will be subdivided into ten shares, each with a face value of Re 1.
The move is expected to garner attention in the stock market, as the share becomes more affordable for a broader investor base.
Nestle India Announces Record Date for Stock Split in 2024
Nestle India has officially disclosed the record date for its upcoming stock split in a communication to the Indian stock market. According to the company's statement, in compliance with Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Record Date has been fixed as Friday, 5th January 2024. This Record Date is crucial as it determines the entitlement of Equity Shareholders for the purpose of sub-division or split of the existing Equity Shares.
The stock split entails that each fully paid-up equity share with a face value of Rs. 10/- (Rupees ten only) will be sub-divided into 10 (ten) equity shares, each with a face value o