‘Lux Industries Ltd.’ announced a stock split and fixed 7 June 2016 as the record date for the purpose of splitting the face value of the shares from Rs. 10 to Rs. 2 per share.
Post split, the number of shares will increase to 25,253,000 shares of Rs. 2 each from 5,050,600 shares of Rs. 10 each. The outstanding paid-up capital of the company is Rs. 50.5 million. The paid-up capital of the company remains the same in case of stock split.
Stock split is a type of corporate action that increases the number of outstanding shares of a company. It involves splitting the face value of the shares of a company. Stock split does not affect the overall capital of the company. Thus, where the overall value of the capital remains the same, the per share value declines in proportion to the decline in the face value of the shares. From an investor point of view, the total value of the shares held remains the same, though, the per share value decreases against an increase in the number of shares post split.
‘Lux Industries Ltd.’ is listed on the Bombay Stock Exchange (BSE) as well as the National Stock Exchange (NSE). It was incorporated in the year 1995. In Prowess, it belongs to the industry group and main product/service group of ‘Readymade garments’ and ‘Other garments, knitted or crocheted’, respectively.
Information about stock split by companies can be obtained in Prowess using either the ‘Changes in Equity Capital’ report in the report viewer or by running a query in the ‘Changes in Capital’ query trigger.These resources also provide additional information pertaining to the stock split such as capital issue type, security type, capital issue date etc.