Multibagger defence PSU stock to trade ex-split today: Check record date and other details

Shares of state-run defence Navratna company Mazagon Dock Shibpbuilders will trade ex-split in today's session (December 27) in the ratio of 1:2. In the previous session, the stock settled higher by over 2 per cent at Rs 4,728.8 per share on the BSE.

The company earlier approved splitting its shares from the previous face value of Rs 10 from the new face value of Rs 5 per share.

On December 2, the company in an exchange filing notified  that it has fixed December 27 as the record date for determining the eligibility of shareholders for sub-division or split of existing one share of face value of Rs 10 each fully paid up into 2 shares of face value of Rs 5 each.

The multibagger defence company earlier approved stock split in 1:2 proportion, meaning for every one share held by investor, there will be subdivision or stock split into five shares,

A stock split is a corporate action in which a company divides its existing shares into multiple shares to boost the liquidity of the shares. ​

This is the company's first stock split announced on October 22, 2024 and it was done for:

(i) To comply with DIPAM Guidelines on Capital Restructuring;

(ii) To encourage wider participation of small investors; and

(iii) To enhance liquidity of the Equity Shares of the Company in the Stock Market.

Post-Sub division, the authorized share capital of the company is Rs. 323,72,00,000 divided into 64,74,40,000 (Sixty Four Crores Seventy Four Lakhs Forty Thousand) shares of Rs 5 each.

Mazagon Dock Shipbuilders share price performance

After hitting a record high in July this year of Rs 5,859.95, the stock has corrected over 19 per cent. In the last one year, the stock has delivered over 107 per cent return, while its 3-year return is at 1,703 per cent.