Hi-Tech Pipes Share Split Date, Hi-Tech Pipes Share Price: Hi-Tech Pipes, a small-cap steel pipes manufacturer, has announced to split its equity shares. The company's board has approved the sub-division of equity shares and also fixed the record date. According to an exchange filing, the shares of the company will be split in the 10:1 ratio. It means that one equity share will be split into 10 equity shares.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

The rationale behind the split is to enhance the liquidity in the market and widen the shareholder base. Besides, it also makes the shares more affordable to small investors.

Also Read: An asset management firm's stock goes ex-split, ex-bonus — do you have it in your portfolio?

Hi-Tech Pipes Share Split Record Date 

The filing said that the record date for determining the eligibility of shareholders for the split is March 17. It means that shareholders having the shares of Hi-Tech Pipes in their Demat account on the record date will be eligible for receiving the benefit of the corporate action. 

The current face value of each share of Hi-Tech Pipes is Rs 10. Once the split comes into effect, the face value would be Re 1. Also, the market price of the shares of the company will be adjusted in the ratio of the split.

“This is to inform you that members of the Company through postal ballot have approved sub-division of Equity Shares of the Company from one (1) equity share of face value of Rs. 10/- each to ten (10) equity shares of face value of Re. 1/- each,” the company said in the filing.

“The Company has fixed Friday, i.e. March 17, 2023, as the Record Date, to ascertain the names of shareholders entitled for sub-division (split) of each of the equity share of the Company having a face value of Rs. 10/- each sub-divided into 10 (Ten) Equity Shares having a face value of Re. 1/- each,” it added.

Hi Tech Pipes Share Price NSE

Shares of the New Delhi-based company closed at Rs 849 per share on BSE on Friday. 

Hi-Tech Pipes is among the country's top suppliers and manufacturers of ERW pipes, which are extensively used in agriculture, industry and construction activities like scaffolding and casing in bore wells.

The stock has yielded multibagger returns in the past three years as it surged around 550 per cent or 5 times during the said period. The stock's 52-week range is Rs 995 - Rs 323.

Also Read: This multibagger power stock announces interim dividend – check record date, payment date

Also Read: Stock Split: This small-cap company splits shares in 5:1 ratio after delivering 817% return in 5 years