Stock Split: BCL Industries announces record date - Check ratio and other details

Stock Split 2023: Distilleries major BCL Industries has announced the sub-division of equity shares. A sub-division or split is simply one of the corporate actions wherein a listed company bifurcates the face value of each equity share in order to increase the total number of equity shares in the secondary market.

Earlier, BCL Industry in an exchange filing said that its board has also fixed the record date for ascertaining the eligibility of shareholders for the sub-division.

Each share of BCL Industry is proposed to be split into 10 shares. The face value of each equity share of the small-cap company will be split from Rs 10 to Re 1. It means that each share will be subdivided into 10 shares.

"Every 1 equity share having nominal/face value of Rs 10 each be sub-divided into 10 equity shares having nominal/face value of Rs 1 each fully paid-up," the company said in a regulatory filing.

"The Board of Directors of the company has passed the necessary resolution by circulation to fix the “Record Date” on Friday, October 27, 2023 for the purpose of sub-division," the company added in the filing.

BCL Industries shares have given a 109 per cent return to its shareholders in two years. If we talk about the last 3 years, BCL Industries shares have increased investors' wealth by 705 per cent.

Shares of the company, which is a constituent of the S&P BSE SmallCap index, have a 52-week range of Rs 588 - Rs 276.15 on BSE. The company commands a market cap of Rs 1,209.62 crore as of October 25, as per the BSE website.

BCL Industries is the only company in India and the South Asian region to have a forward and backward integrated distillery ethanol plant.