Hi, I read in Zerodha versity that Ex-date is usually one day before the Record date. In the case of Likhitha Infrastructure, the exchanges, as well as kite, are showing 2nd December as ex-date for split of shares. But in the company’s official letter (dt. 21/11/2022) to the exchanges, 2nd December has been mentioned as the record date for the same corporate action. If one buys few shares of Likhitha on 1st December, 2022, will he be eligible for the benefits of corporate action (split)?
Likhita Infrastructure is in T+1 settlement. For stocks that are in T+1 settlement, the ex-date and record date will mostly be on the same day. Exchanges have been moving stocks to T+1 settlement from the current T+2 settlement in a phased manner from February 2022 starting with stocks with the lowest market cap. You can check the list of stocks which have been moved to T+1 settlement here: Stocks transferred to T+1 settlement - Google Sheets
You can learn more about T+1 settlement here: Introduction of T+1 Rolling settlement on an optional basis - #20 by nithin
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I had another question.
I had purchased few shares of LIKHITHA on 1st December. Today, 2nd December, in my demat the average price of shares has been halved which is because of split of shares. But the number of shares has not been doubled. The amount I had invested has also decreased by 50% automatically. Is it normal? When will I see the actual amount that I had invested?
Since today is ex-date, the average price has been adjusted according to the split ratio. The split shares will be credited to your Demat account in 2 working days from the record date. Once done, the P&L and invested amount will be adjusted accordingly.
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Likhitha is trading as face value 5 share (after split ) from 02 December 2022 VOLUMES ARE HUGE and there will be some delivery trade eod …all those who sell today must deliver by 9 am of 03 December . from where these investors will have delivery ? it means some investors are in position to sell today . kindly guide. @ShubhS9