Cochin Shipyard to trade ex-stock split, Grasim Industries to go ex-rights today

Cochin Shipyard stock split, Grasim rights issue ratio: Cochin Shipyard will trade ex-stock split Grasim Industries will go ex-rights on Wednesday, January 10.

Cochin Shipyard (COCHINSHIP) stock split  

Earlier, the state-run shipbuilder’s board gave nod to a proposal to split its stock from a face value of Rs 10 to a face value of Rs 5, translating into a share split ratio of 2:1 ratio. 

In a regulatory filing on December 14, the company said: "We wish to inform you that the company has fixed Wednesday, January 10, 2024, as the record date for the purpose of determining the eligibility of shareholders for sub-division or split of existing 1 (one) equity share of face value of Rs. 10/- (Rupees Ten Only) each fully paid up into 2 (two) equity share of face value of Rs. 5/- (Rupees Five Only) each fully paid up." 

Grasim rights issue  

Aditya Birla group company Grasim Industries announced a plan to issue rights with a record date of January 10. The company, whose board approved fund-raising up to Rs 4,000 crore through rights, plans to issue up to 2.2 crore equity shares its promoter group, according to a regulatory filing on January 4.  

The company set the price for the rights at Rs 1,812 per share. 

Here are some of the key details about the upcoming rights issue by Grasim Industries:   

• Grasim rights issue opening date: Wednesday, 17 January 2024 
• Grasim rights issue closing date: Monday, 29 January 2024 
• Grasim rights issue on-market renunciation period: Tuesday, 23 January 2024 

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