2 hrs ago
Investors Face Final Buying Day Before Split and Spin-Off
Two companies have set October 6 as the date for deciding which shareholders qualify for changes to their shares.
The article says investors needed to own the shares before that date, making October 5 the last day to buy.
BLS E-Services is splitting each ₹10 share into two ₹5 shares.
This changes the number of shares and their face value.
Veranda Learning Solutions is carrying out a spin-off.
Eligible Veranda shareholders will receive one share in J.K. Shah Commerce Education for each Veranda share they own.
The new company plans to seek listings on BSE and NSE, subject to required approvals and processes.
BLS E-Services shares closed lower on October 1, though the article also reports positive returns over one and two years.
BLS E-Services and Veranda Learning Solutions set October 6 as the record date for their respective corporate actions.
The article identifies Monday, October 5, as the last day to buy shares to qualify.
BLS E-Services will split each ₹10 face-value share into two shares with a ₹5 face value each.
Eligible Veranda Learning shareholders will receive one J.K. Shah Commerce Education share for each Veranda share held.
BLS E-Services closed at ₹322.05 on BSE on October 1, down 1.99% that day.
- Who
- BLS E-Services Limited and Veranda Learning Solutions, and their shareholders.
- What
- A stock split at BLS E-Services and a spin-off distribution by Veranda Learning Solutions.
- Where
- The shares are discussed in the Indian market; BLS E-Services' quoted closing price was on BSE. J.K. Shah Commerce Education plans to seek listings on BSE and NSE.
- When
- The stated record date is October 6; the article identifies October 5 as the last day to buy.
- Why
- The record date determines which shareholders qualify for the corporate actions.
Key facts
- Record date
- October 6
- Last stated buying date
- Monday, October 5
- BLS E-Services split
- Each ₹10 face-value share becomes two ₹5 face-value shares.
- Veranda spin-off entitlement
- One J.K. Shah Commerce Education share for every Veranda Learning share held by eligible shareholders.
- BLS E-Services closing price
- ₹322.05 on BSE on October 1, down 1.99%.
- BLS E-Services reported returns
- 75% over one year and around 42% over two years.
- Planned listing
- J.K. Shah Commerce Education plans to pursue listings on BSE and NSE, subject to mandatory approvals and processes.
Quotes
Veranda Learning Solutions
Education company describing the spin-off distribution to eligible shareholders.
“will be sub-divided into equity shares having a face value of Rs. 5/- (Rupees Five only) each, fully paid-up, against the existing equity shares having a face value of Rs. 10/- (Rupees Ten only) each, fully paid-up, such that every 1 (One) existing equity share of Rs. 10/- each shall stand subdivided into 2 (Two) equity shares of Rs. 5/- each.”
livemint.com
“eligible shareholders of Veranda Learning as on the Record Date will receive 1 equity share of J.K. Shah Commerce Education Limited for every 1 equity share held in Veranda Learning.”
livemint.com
Sources
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