Small-cap company fixes record date for 10:1 stock split. Details here

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Stock split 2022: The board of directors of the small-cap company Leading Leasing Finance and Investment Company Ltd has fixed 22nd September 2022 as record date for stock split. This means, the small-cap stock will trade ex-split on 21st September 2022. The company board has already approved and declared 10:1 stock subdivision. This means one stock of the company with a face value of 10 per equity share will now get divided into 10 shares with a face value of Re 1 per equity share after the stock split.

The small-cap company informed Indian stock market exchanges about the stock split record date citing, “In terms of Regulation 42 (2) of the SEBI Listing Regulations, the Company has fixed Thursday 22nd September 2022 as the ‘Record Date’ for the purpose of determining the eligibility of Shareholders for the purpose of sub-division /split of every one fully paid-up Ordinary (equity) share having face value Rs. 10/- (Rupees Ten only) each in the share capital of the Company, into ten (10) fully paid-up Ordinary (equity) shares having face value Re. 1/- (Rupee One only) each, as approved by the shareholders at the 38th Annual General Meeting held on 09th September 2022.”

In July 2022, the small-cap company had informed BSE about the stock split decision citing, “A meeting of the Board of Directors of Leading Leasing Finance and Investment Company Ltd (‘the Company’) will be held on Friday 12th August 2022 at 12.00 pm, inter alia to consider a proposal for sub-division of the Equity shares of the Company from a face value @ Rs. 10/- each to Face Value @ Re. 1/- each as per the Beneficiary Position/Register of Members as per the Record Date in such manner as may be determined by the Board of Directors, subject to regulatory/statutory approvals as may be required and the approval of the shareholders of the Company.”

Leading Leasing Finance and Investment Company Ltd is a small-cap company with a market cap of 60 crore. It’s a BSE listed stock having made 52-week high of 173.80 on BSE whereas its 52-week low on BSE exchange is 48 apiece. Its trade volume on BSE on Thursday was 50,643 that means the stock is a low float stock and investors with low risk appetite should avoid taking any position in this small-cap stock.

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