1:10 Sub-Division of Shares: 12th November Record Date For Stock Split; BUY?

Wonder Electricals offers "one-stop-shop" solutions to Indian enterprises that manufacture fans. With NSE listing and trading permission dated August 5, 2019, the firm launched an initial public offering (IPO) and became listed on the NSE EMERGE SME Platform as of August 6. Starting on January 17, 2022, the company moved to the NSE and BSE stock exchanges' main board. After Wonder Electricals announced the record date for a 1:10 stock split, the company's shares closed the day 3.33% higher on the BSE at Rs 1531.10 each, giving it a market valuation of Rs 2,051.80 Cr on Friday.

Wonder Electricals Stock Split Record Date

"Pursuant to Regulation 42 of Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulation, 2015, it is hereby informed that, the Board of Director of the Company at its Meeting held today, i.e., 17th October, 2024 has fixed 12th November, 2024 as the "Record date" for determining eligibility of members for the purpose of sub-division/ Split of the equity shares of the Company from face value of Rs. 10/- each fully paid-up to face value of Rs. 1/- each fully paid-up as approved by the shareholders in the 15th Annual General Meeting held on 24th September, 2024," said the company in a stock exchange filing.

Wonder Electricals Allotment of Sub-Division of Shares

"Upon sub-division/ split of equity shares as aforesaid, with effect from the Record Date for the equity Shares held in dematerialized form, the sub-divided equity shares shall be credited proportionately into the respective beneficiary demat accounts of the members held with Depository Participants, in lieu of the existing credits present in their respective beneficiary demat accounts," said the company in a stock exchange filing.

"The Equity shares of the Company are listed and are being traded on the BSE & NSE Limited. With a view to enhance the liquidity of the Company's equity shares and to encourage the participation of small investors by making equity shares of the Company more affordable to invest in the equity shares of the Company, the Board of Directors of the Company, in its meeting held on August 22, 2024 has considered and approved the sub-division/splitting of the existing equity shares of the Company, having nominal/face value of Rs.10/- (Rupees Ten Only) each be sub-divided into 10 (Ten) Equity Shares having nominal/face value of Rs.1/- (Rupees one Only) each, ranking pari-passu with each other in all respects, with effect from such date as may be fixed by the Board as the Record Date ("Record Date"), subject to approval of shareholders of the Company. In the opinion of the Board, the proposed sub-division/splitting of the equity shares is in the best interest of the Company and the proposed sub‑division of equity shares will not result in any change in the amount of Authorised, Issued, Subscribed and Paid-up equity share capital of the Company," Wonder Electricals informed stock exchanges.

Wonder Electricals Share Price Target

"Wonder Electricals stock price is bullish on the Daily charts with strong support at 1459. A Daily close above resistance of 1600 could lead to a target of 1680 in the near term," said A R Ramachandran, Independent Research Analyst.

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