HP Adhesives Ltd To Undergo Stock Split Next Week: Check Record Date, And Important Details Here

HP Adhesives Ltd will undergo stock split in the upcoming week. The share price of HP Adhesives Ltd closed 0.65% lower at Rs 460.85 per share on Friday. The company has a market capitalization of 846.81 crore. In the last one year the share price of HP Adhesives Ltd has gained up to 15%, while the stock's year-to-date (YTD) performance is up 23%.

Purpose of stock split - Stock Split From Rs.10/- to Rs.2/-
Start Date - November 3, 2023
End Date - November 9, 2023
Record Date - November 9, 2023

In an exchange filing on October 5, the company said, "The Board of Directors of the Company has passed the necessary Resolution through Circular today i.e. on 5th October, 2023, and has fixed the "Record date" on Thursday, 9th November, 2023 for the purpose of Sub-division of every 1 (One) Equity Share having face value of Rs. 10/ each be sub-divided into 5 Equity Shares having face value of Rs. 2 each fully paid-up."

Split ratio - Sub-division of every 1 (One) Equity Share of the face value of Rs. 10 each into 5 Equity Shares of the face value of Rs. 2 each.

According to the company, the rationale behind the Split is to enhance the liquidity of Equity Shares and widen the shareholders base by making the Equity Shares more economical to the investors. Headquartered in India, HP Adhesives is a leading provider of adhesives and sealants.

The company is expected to inter-alia consider and approve the Unaudited Financial results of the Company for the Half Yearly ended September 2023 on November 9, 2023.

Two other companies that will undergo stock split next week include M. K. Proteins Ltd and Avance Technologies Ltd. The duo has set stock split record date on November 10.