1:10 stock split: PC Jeweller's board approves sub-division - Check Details

1:10 stock split: PC Jeweller has informed exchanges that its board has approved a 1:10 stock split. The decision has been taken to enhance liquidity and make the shares more affordable for retail investors. 

As a result of the stock split, the total number of shares will increase from approximately 46.5 crore to 465.4 crore.

"Sub-division / split of each equity share of face value of Rs 10/- (Rupees Ten Only) each, fully paid-up, into 10 (Ten) equity shares of face value of Re 1 (Rupee One Only) each, fully paid-up, by alteration of Capital Clause of Memorandum of Association of the Company, subject to the approval of Members of the Company. The Record Date for sub-division / split of existing equity shares will be intimated in due course," the company said in an exchange filing.

Meanwhile, the counter hit a fresh 52-week high today. The counter opened at Rs 184.70 on the BSE and gained further to touch the high of Rs 186.80 - a gain of around 5 per cent from the previous close of Rs 177.95.

Last seen the counter was trading at Rs 169.10, a fall of around 5 per cent.