1:10, 1:1, 1:5 Stock Splits Coming Up: 6 Major Stocks Splitting In March; Do You Own Any?

With March 2024 just around the corner, a host of companies have already decided for splitting their shares for which record date is fixed in the next month. These are Tiger Logistics, Capri Global Capital, Manorama Industries, Canara Bank, Thinkink Picturez, and Waaree Renewable Technologies. These stocks will split into ratio of 1:1 to a massive 1:10.

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.

Here are the stock split details of these six stocks:

1. Tiger Logistics Stock Split:

The company has fixed March 4, 2024, as the record date for determining the eligibility of Shareholders for the purpose of sub - division/split of each Equity Share having face value of Rs.10/- each into 10 (Ten) Equity Shares having face value of Re.1/- each. Hence, the stock split ratio here will be 1:10.

Tiger Logistics was founded in the year 2000 in response to a need of a reliable, high-principled player in the Indian logistics scenario and a goal to be a one-stop shop for international logistics. Tiger works as a logistics partner instead of just a vendor. It carves out tailored solutions for its customers to manage their end-to-end logistics requirements.

2. Capri Global Capital Stock Split:

The company-approved stock split in the ratio of 2:1, which means 1 existing equity share at a face value of Rs 2 each will be split into two having a face value of Rs 1 each.

The stock split will increase the fully paid-up equity of CGCL from Rs206.23mn pre-split to Rs412.46mn post-split. The authorized share capital will be increased from Rs360mn to Rs720mn to accommodate the increase in paid-up equity capital. The Company's stock had last split in Nov'16.

The record and ex-bonus date for the stock split is set on March 5, 2024.

Capri Global Capital Limited (CGCL) is a diversified Non-Banking Financial Company (NBFC) with a presence primarily across two key verticals - MSME Loans and Home Loans.

3. Manorama Industries Stock Split:

This company has fixed Friday, March 08, 2024 as the "Record Date" for determining entitlement of Equity Shareholders for sub-division/stock split of existing Equity Shares of the Company, such that 1 (one) equity share having face value of Rs. 10/- (Rupees ten only) each, fully paid-up, will be sub-divided into 05 (five) equity shares having face value of Rs. 2/- (Rupee two only) each, fully paid-up.

The stock split ratio is at 1:5.

Established in 2005, MIL is a global pioneer in manufacturing speciality fats & butters and exotic products. The Company has carved a niche in manufacturing Sal CBE & Stearin, Shea CBE & Stearin, Mango CBE & Stearin and other exotic fats & butter. MIL offers customized solutions to Fortune 500 companies in chocolate, confectionery and cosmetic industry.

4. Canara Bank Stock Split:

Canara Bank is planning a stock split of 1:5 ratio. Canara Bank said, "The Board of Directors of the Bank at its meeting held on, i.e Monday, 26th February 2024, inter alia, approved Sub-division/ split of every one equity share of face value of Rs. 10/- (Rupees ten only) each, fully paid-up, into 5 (five) equity shares of face value of Rs. 2 /- (Rupee two only) each, fully paid-up, subject to approval of the Reserve Bank of India."

Founded in July 1906, Canara Bank has been scaling up its market position to emerge as a major Financial Conglomerate with as many as thirteen subsidiaries/sponsored institutions in India and abroad. As of December 31, 2023, the Bank has 9585 Number of Branches, out of which 3095 are Rural,2742 Semi Urban,1906 Urban & 1842 Metro along with 10463 ATMs. Bank is also having 3 Overseas Branches in London, New York & Dubai.

5. Thinkink Picturez Stock Split:

Thinkink is among the companies who are considering and planning stock splits. As per its regulatory filing, the company's board is scheduled to meet on Friday, March 01, 2024 --- for stock split proposal, bonus issue and interim dividend.

Its filing said, the agenda of the Meeting inter alia includes: 1. Stock Split: The Board will consider a proposal for the sub-division of the Company's equity shares of face value of Rs 5 each. 2. Bonus Issue: The Board will also consider the issuance of bonus shares to the existing shareholders of the Company in a ratio to be determined, subject to necessary approvals. To deliberate on issuing bonus shares to our shareholders, rewarding them for their continued support and increasing the equity base of the company. 3. Dividend Declaration: The board will consider declaring a dividend of up to Rs 3 per share.

ThinkInk Picturez is a film production company it was born out for a passion to create the best content in Film Making, TV and Web Shows,both fiction and Non-Fiction.

6. Waaree Renewable Technologies Stock Split:

Waaree has already received approval for a stock split of 1:5. However, record date is yet to be announced, and chances are it may turn ex-split in March.

As per the filing, board approved the sub-division/ split of existing 1 (One) Equity Share of face value of Rs. 10/- (Rupees Ten Only) each fully paid up into 5 (Five) Equity Shares of face value of Rs. 2/- (Rupees Two) each fully paid up, subject to shareholders approval.

It added, the record date for the purpose of above sub-division/split of Equity Shares shall be decided after obtaining approval for sub-division/ split from the shareholders through postal ballot electronic voting process and will be intimated in due course.

Waaree Renewables Technology Limited (WRTL) is a subsidiary company of Waaree Group and spearheading the Solar EPC business. Waaree Group has successfully installed 10000+ solar projects, with a total operating capacity of 600+ MW.