Akme Fintrade Announces 10:1 Stock Split
Akme Fintrade (India) Ltd has announced a stock split for its shares. The company's Board of Directors has approved a 10:1 stock split, meaning each existing share will be divided into 10 new shares. This is the first time the company has announced a stock split.
Decision Made Within a Year of Listing
This decision comes just one year after the company's initial public offering (IPO) and listing on the stock exchange. This move within a year of listing could be a significant development for investors.
Change in Face Value
Following the stock split, the face value of each Akme Fintrade share will decrease from ₹10 to ₹1. However, this will not change the overall value held by investors; each existing share will simply be converted into ten new shares.
Record Date Announced
The company has set April 18, 2025, as the record date for the stock split. Shareholders holding shares on this date will be eligible for the split.
Current Share Price and Market Capitalization
At the close of trading on Monday, Akme Fintrade shares were trading around ₹72.40 on the BSE. The company's current market capitalization is approximately ₹308.97 crore. The company launched its IPO in June 2024, with an issue price of ₹120 per share.
