Waterways Leisure Tourism, which operates the Cordelia Cruises brand, has set 26 August as the record date for its first-ever 1:10 stock split. With the record date falling on Wednesday, today is the final trading day for investors to purchase the shares and qualify for the corporate action.
The recently listed travel company had announced the stock split only seven trading sessions after making its stock market debut on 1 July. Under the approved proposal, every existing equity share with a face value of ₹10 will be subdivided into 10 equity shares with a face value of Re 1 each.
The company said the move is intended to improve the stock’s liquidity and make it more affordable, potentially expanding its appeal to a wider pool of investors. It expects the subdivision to boost trading volumes and broaden its shareholder base, while leaving the company’s overall capital structure and intrinsic value unchanged.
Under SEBI’s T+1 settlement cycle, investors need to buy the shares at least one trading session before the record date to ensure that they are credited to their demat accounts in time. Therefore, today is the last day to buy Waterways Leisure Tourism shares to become eligible for the 1:10 stock split.
