Mazagon Dock Shipbuilders Limited (MAZDOCK) board has announced a 10:5 stock split, reducing the face value of its equity shares from ₹10 to ₹5. Shareholders will receive 10 shares for every 5 shares they hold. The record date for this stock split is December 27, 2024. You can check the announcement from the company here.
Stock Split Details
| Company | Mazagon Dock Shipbuilders Limited (MAZDOCK) |
|---|---|
| Split Ratio | 10:5 |
| Record Date | December 27, 2024 |
| Ex-Date | December 27, 2024 |
| Eligibility | Shareholders holding or buying shares on or before the cum-date (December 26, 2024) |
| Credit Timeline | Within 2 -3 trading days from the record date (December 27, 2024) |
What is a stock split?
A stock split is when a company increases the number of shares by reducing the face value per share.
What does the 10:5 stock split mean for Mazagon Dock Shipbuilders Limited?
Each share with a face value of ₹10 will be subdivided into shares with a face value of ₹5. For every five shares held, shareholders will receive ten shares, effectively increasing the number of shares by 2 times.
Example:
- Before Split: 100 shares at 4800 each = ₹4,80,000 total value.
- After Split: 200 shares at ₹2400 each = ₹4,80,000 total value.
Also, we adjust the OHLC data and charts on Kite for corporate actions like bonuses, stock splits, and rights issues. We’ve explained it here.
Who is eligible to receive the split shares?
Shareholders who hold or purchase shares of Mazagon Dock Shipbuilders Limited on or before the cum-date (December 26, 2024) will be eligible to receive the split shares. To qualify, the shares must be credited to your demat account by the record date (December 27, 2024).
How long does it take for the split shares to reflect?
When a stock undergoes a split, it takes up to 2-3 working days from the ex-date or record date for the new shares to be credited to the demat account. During this period, the shares may not be visible in your holdings.
The P&L may show an artificial decrease in profits or an increase in losses until the new shares are credited. This will be automatically adjusted once the shares are updated.
You can refer to all current and upcoming corporate actions on this list (DOC).
Can I sell my shares before the split shares are credited?
Yes, you can sell your shares even before the split shares are credited to your demat account. However, the shares sold will be adjusted for the stock split, and the remaining split shares will be credited to your account within 2-3 working days after the record date. There will be no impact on your P&L.