Nestle India stock split date: Shares to trade ex-date tomorrow

Nestle India stock split, Nestle India stock split ex date: Shares of Nestle India are set to go ex-split tomorrow, January 5. The FMCG major on December 18 announced a split of existing shares of the company, such that one equity share having a face value of Rs 10 each will be subdivided into 10 equity shares having a face value of Re 1 each.

Nestle India stock split record date

The company has also fixed Friday, January 5, 2024, as the record date for determining the entitlement of equity shareholders for sub-division.

"This is to inform you that the company has fixed Friday, January 5, 2024, as the “Record Date” for determining the entitlement of equity shareholders for sub-division or split of existing equity shares of the company, such that 1 (one) equity share having a face value of Rs. 10/- (Rupees ten only) each, fully paid-up, will be sub-divided into 10 (ten) equity shares having a face value of Re 1/- (Rupee one only) each, fully paid-up," read the Maggi maker's filing with the exchanges.

A record date is the cut-off date to identify the shareholders that are eligible for any corporate action such as a dividend, bonus, stock split, or buyback announced by the company earlier.

The process of dividing the company's outstanding shares into smaller shares is known as stock splits. In a split, although the number of shares outstanding increases by a specific multiple, the total value of the shares remains the same compared to pre-split amounts because the split does not add any real value.

The blue-chip stock has outperformed Nifty over one year, with gains of over 35 per cent. Meanwhile, the headline index during the same period has rallied over 18 per cent.

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