Adani Power Ltd. to Discuss Stock Split
Adani Power Ltd. board will consider a stock split at a board meeting this week, as per a notification on Tuesday. The market responded positively to this news.
The Details
The board meeting is scheduled for Aug. 1, where they will deliberate the subdivision of current equity shares valued at Rs 10 each. If agreed upon, it will mark Adani Power’s debut in undertaking a corporate action.
What a Stock Split Means
A stock split involves a company dividing its existing shares into multiple new ones. This move enhances the total number of outstanding shares while reducing the price per share.
Although this does not alter the stock’s overall market capitalization, it can render the shares more affordable to a broader investor base by decreasing the per-share price.
Further details regarding the split ratio, ex-date, and record date for identifying eligible shareholders will be disclosed post the board’s decision.
Upcoming Developments
According to NDTV Profit reports from July 9, a positive corporate action was anticipated. Additionally, Adani Power is slated to reveal its June quarter results on the same day.
As per the latest BSE data, the total promoter holding stands at 74.96%. Retail investors collectively hold 4.8% equity, comprising around 18 lakh individuals. Foreign portfolio investors stake claim to 12.46% of the shares.
Stay tuned for more updates on this significant corporate move by Adani Power Ltd.
