Electrical equipment company, Kaycee Industries on July 5th turned ex-bonus and ex-split ahead of the record date which is fixed on July 6. Kaycee is set to distribute double rewards to investors in the form of a 4:1 bonus issue and a 100:10 stock split. Ahead of the record date, Kaycee's share price touched a new 52-week high and froze at its 2% upper circuit. The penny stock is only listed on BSE.
Kaycee Industries Share Price:
After market hours, Kaycee's share price ended at Rs 1365.50 apiece, which is its 2% upper circuit and also its new 52-week high. On BSE, the company's market cap is at Rs 433.34 crore on July 5.
Adjusted to the stock split ratio, Kaycee is a multi-bagger with gains of a whopping 276% in 3 months. YTD, the stock skyrocketed by nearly 487%.
Kaycee Industries Stock Split:
The company turned ex-split for its sub-division in the ratio f 1:10. This meant that 1 equity share having a face value of Rs 100 is subdivided into 10 smaller shares with a face value of Rs 10 each.
The record date for the stock split is fixed on July 6, 2024. Only those shareholders will be eligible who hold Kaycee shares as of July 6, 2024. But since July 6th is a weekend holiday, hence, shareholders having Kaycee shares in their portfolio by the end of July 5 will be eligible.
Generally, share splits mean that listed companies can split their existing shares into a ratio decided by them for a host of reasons. These could be done to improve liquidity, lessen the value of the stock, make it cheaper or simply attract new buying from both existing and new investors.
Kaycee Industries Bonus Issue:
The penny stock also turned ex-bonus on July 5 for its bonus issue in the ratio of 4:1. Meaning, the company will reward four bonus equity shares having a face value of Rs 10 each to every 1 equity share held by investors which has a face value of Rs 10 each as well.
For the bonus issue, the record date is also fixed on July 6, 2024. Bonus shares are one of the many corporate actions that listed companies announce on several occasions. Bonus shares are like incentives which are free of cost given to investors. Under this corporate action, new shares are issued at the existing Face Value of equity shares of the company. Hence, the face value remains the same post-bonus issue.
About Kaycee Industries:
Kaycee Industries Ltd is a more than 75-year-old pre-independence incorporated Company, presently a subsidiary of Salzer Electronics Ltd. Kaycee is known to be the First Indian manufacturer of Rotary Switches and started manufacturing in the year 1942.
Kaycee Industries Ltd, a Mumbai-based listed company is a leading Electrical Product manufacturer and solutions provider to various industry sectors like the Power sector, Panel builders, Machine tool manufacturers, Telecom, Renewables etc.
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