Coastal Corporation Ltd., a ₹350 crore market capitalisation company, has announced a stock split on Monday, December 23. The company plans to split one equity share of a face value of ₹10 into five shares with a face value of ₹2 each, marking the first-ever stock split in the company’s history.
Key details of the stock split:
- Split Ratio: 1:5 (one equity share of ₹10 into five shares of ₹2 each).
- Record Date: To be announced soon.
- Objective: The split aims to make shares more affordable for investors and enhance liquidity in the market.
Company Profile:
Coastal Corporation is a prominent producer and exporter of high-quality aquaculture seafood products globally. According to the September quarter shareholding pattern:
- Promoter Holding: ~42%
- Foreign Institutional Holding: 1.4%
- Domestic Mutual Fund Stake: None
Stock Performance:
Coastal Corporation shares traded 1.7% higher at ₹261.41 on the announcement but remain down 7% year-to-date, indicating underperformance in 2023.
The stock split is expected to attract more retail investors and improve trading volumes, aligning with the company’s long-term growth and market presence.
