The international logistics firm Tiger Logistics (India) has announced a significant development, setting a record date for a 1:10 stock split, as approved by its board. This move comes as the company’s shares have yielded impressive returns to investors, with a remarkable 1,523 per cent increase over the last three years and 341 per cent over the last two years.
On the BSE, shares of Tiger Logistics (India) closed 2.92 per cent higher at ₹809.35 apiece following the announcement. The record date for the proposed stock split has been scheduled for March 4, 2024.
March 4 has been identified as the cutoff/record date for determining the eligibility of shareholders for the sub-division/split of each Equity Share with a face value of Rs.10/- each into 10 (Ten) Equity Shares with a face value of Re.1/- each, as stated by the end-to-end logistics company.
A stock split is a strategic corporate action where a company increases the number of its shares to enhance liquidity. This involves issuing additional shares to shareholders, effectively increasing the total shares based on a specified ratio, typically denoted as 2-for-1 or 3-for-1.
