Tata Investment stock split: The Tata Group firm — Tata Investment Corporation — on Monday, August 4, announced its board approval of a stock split in the ratio of 1:10. The company’s board of directors also approved the financial results for the first quarter of the ongoing fiscal year, along with subdivision of shares.
As a result, Tata Investment share price spiked 4% in intraday deals.
Tata Investment Stock Split Details
The company said its board approved subdivision of one equity share of the company having a face value of ₹10/- each fully paid-up, into 10 equity shares having a face value of ₹1/- (Rupee One only) each, fully paid-up.
The company will undertake the stock split by alteration of the Capital Clause of the Memorandum of Association of the Company and the relevant capital clause in Articles of Association of the Company, subject to approval of the Shareholders by way of Postal Ballot and any regulatory/statutory approvals, as may be required under applicable laws, it said in a filing with the exchanges today.
