Standard Capital announces record date for stock split & bonus issue

Standard Capital Markets Ltd has announced the record date for the sub-division and issue of bonus shares. It has announced the corporate actions in November 2023. The company informed about the same through an exchange filing after the market hours on Thursday.

The company has fixed December 29, 2023, Friday, as the record date for the following purposes of subdivision and issue of bonus shares, subject to the approval of shareholders, said the exchange filing. The company will hold its extraordinary general meeting (EMG) for approval on December 18, 2023, Monday, it said.

In November, the company board of Standard Capital Markets approved the sub-division of equity shares in a 1:10 ratio. It means that every share of the company with a face value of Rs 10 each will be split into 10 equity shares with a face value of Re 1 each as on the record date.

Subsequent to the stock split, the company board had also approved bonus issues in a 2:1 ratio. It means that an eligible investor holding one share of the company with a face value of Re 1 each shall be given two bonus shares with a face value of Re 1 each as on the record date.

Shares of Standard Capital Markets rose 2 per cent to Rs 66.37 on Friday. The stock has gained about 600 per cent from its 52-week low at Rs 9.59, hit a year ago, but the stock is also down 31 per cent from its 52-week high at Rs 96 apiece hit in May this year.

Incorporated in 1987, Standard Capital Markets Ltd is in the business of non-banking financial activities. The company provides a range of financial services, including secured and unsecured loans to individuals and MSMEs; dealing in securities/shares of companies, bonds and units investment in stock markets.


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