3 weeks ago
Waterways Leisure Tourism announces August 26 record date for split
Waterways Leisure Tourism is a company that runs ocean cruises in India.
The company decided to split each of its shares into ten smaller shares.
Splitting a share is like cutting one big slice of cake into ten smaller slices.
On August 12, the company's shareholders voted yes to the plan by sending in their votes by mail.
The company chose August 26 as the special "record date" to decide who gets the new smaller shares.
After the split, each share will be worth less, so more people may be able to afford to buy them.
The company's total value stays the same even though there are more shares now.
After the news was announced, the company's share price went up a little on the stock market.
The chairman said the split will make it easier for everyday investors to join in the company's growth.
Waterways Leisure Tourism set Wednesday, August 26, as the record date for its proposed 1:10 stock split.
Under the split, each share with a face value of ₹10 will be subdivided into 10 shares of ₹1 each.
Shareholders approved the sub-division through a postal ballot, with the result announced on August 12.
Paid-up share capital remains unchanged at ₹72.4 crore, while shares increase from 7,23,94,543 to 72,39,45,430.
The stock climbed nearly 3% on the BSE on August 13, trading at ₹848.55, up 5% from its ₹808 issue price.
- Who
- Waterways Leisure Tourism, an Indian domestic ocean cruise operator led by Chairman and CEO Jurgen Bailom
- What
- Announced August 26 as the record date for its proposed 1:10 stock split approved by shareholders
- Where
- India, with the stock trading on the BSE
- When
- Announced post-market on August 12, with the record date set for August 26
- Why
- To make its equity shares more accessible to a wider investor base, particularly retail investors, and to facilitate greater liquidity in the secondary market
Key facts
- Stock split ratio
- 1:10
- Record date
- August 26
- Face value
- ₹10 per share subdivided into ₹1 per share
- Paid-up share capital
- ₹72.4 crore (unchanged)
- Equity shares
- 7,23,94,543 shares of ₹10 each to become 72,39,45,430 shares of ₹1 each
- Current share price
- ₹848.55 (August 13)
- Issue price
- ₹808
- Listing date
- July 1
Quotes
Jurgen Bailom
Chairman of the Board, Executive Director and CEO of Waterways Leisure Tourism
“"The approval of the 1:10 share split marks another important milestone in Waterways Leisure Tourism's journey as we build a stronger and more accessible listed company. The decision reflects our commitment to making participation in our growth journey more accessible to a wider base of investors, while supporting greater liquidity and engagement in our equity."”
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