Stock split 2024: Small-cap stock Rushil Decor sets board meeting date to consider stock subdivision

Stock split 2024: The board of directors of Rushil Decor Ltd will consider a stock split proposal in its upcoming meeting. The company board meeting is scheduled for May 24 2024. If approved, this will be the first time the mainboard issue will undergo a stock split after listing on the Indian bourses in July 2011. The mainboard IPO was launched in June 2011 at a price band of ₹63 to ₹72 per equity share. A stock split could increase the liquidity of the company's shares, making them more affordable and attractive to a broader range of investors. This could lead to an increase in the company's market capitalization and potentially its stock price. Rushil Decor share price ended on Friday last week at ₹330.50 apiece on NSE.

Rushil Decor stock split 2024 details

The small-cap company informed the Indian stock market exchanges about the stock split proposal, saying, "In terms of Regulation 29(3)(a) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, Notice. is hereby given that a Meeting of the Board of Directors of the. Company is scheduled to be held on Friday, May 24, 2024, inter-alia, to consider and approve the proposal for sub-division / split of existing Equity Shares of the Company, having a Face Value of ₹10/- each, fully paid up, in such manner as may be determined by the Board of Directors, subject to the approval of Shareholders of the Company and any other regulatory/ statutory approvals (if any)."

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"Further, pursuant to the provisions of the SEBI (Prohibition of Insider Trading) Regulations, 2015 and the Company's Code of Conduct to Regulate, Monitor and Report Trading by Designated Persons, the Trading Window for dealing in shares of the Company has already been closed with effect from April 01, 2024 and will be reopened after expiry of 48 hours from the conclusion of board meeting of the Company," Rushil Decor added.

Rushil Decor share price history

As mentioned above, shares of the company were offered in the primary market in June 2011 at a price band of ₹63 to ₹72 per share. The mainboard IPO listed on BSE and NSE on July 07 2011, was 81.25 on BSE and 74.50 on NSE. After hitting the Indian stock market on July 07 2011, at a marginal premium, Rushil Decor's share price attracted strong buying interest on the share listing date and ended at ₹119.65 on BSE and ₹119.50 on NSE on the listing date. In the beginning of November 2017, the mainboard scrip came close to ₹900 appiece levels as well. However, the stock has remained under the base-building mode in YTD time. It has given around 3 percent return to its shareholders in one month. This historical performance suggests that the stock has the potential for growth, but it's important to note that past performance is not indicative of future results.

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