Nestle India has scheduled January 5, 2024, as the “Record Date” to determine the entitlement of equity shareholders for the subdivision/split of existing equity shares. Following shareholder approval through a Postal Ballot on December 8, 2023, each fully paid-up equity share with a face value of Rs. 10/- will be subdivided into 10 fully paid-up equity shares with a face value of Re. 1/- each, ranking pari-passu(on equal footing) in all respects. The stock split, approved by the Nestle board on October 19, marks a 1:10 ratio, making it the first stock split for the company India.
The paid-up value for equity shares stands at Rs. 964,157,160/- (Rs. 10/- per equity share). The shares for the company ended at 24,356.2 rupees.
A 1-for-10 split implies that for every 10 shares held by an investor, they will receive one share. This decision enhances liquidity by increasing the number of securities issued and outstanding. Each security holder will receive more securities in direct proportion to their holdings on the record date, without altering their percentage ownership of the issuer.
Nestlé S.A. is a multinational conglomerate corporation based in Vevey, Vaud, Switzerland, specializing in food and beverage processing. Since 2014, it has held the position of the world’s largest publicly traded food company.
