Apollo Micro Systems Share Price, stock split: Aerospace and defence company Apollo Micro Systems has announced to split its equity shares bearing a face value of Rs 10 each.
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The company has informed exchange that the board has approved sub-division of shares in the ratio of 10:1, meaning each share will split into 10 shares.
“Approved the Sub-Division/ Split of 1 (One) Equity Share of face value of Rs. 10/- (Rupees Ten Only) fully paid up into 10 (Ten) Equity Shares of Rs. 1/- (Rupee One Only) each fully paid up,” the company said in an exchange filing.
Earlier on March 28, the company’s shareholders had approved a proposal for the sub-division of equity shares. Subsequently, the board fixed the record date for determining the eligibility of shareholders for the split.
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“The board has passed the necessary resolution through Circular Resolution, on 6th April, 2023 and has fixed the record date on Thursday, 4th May, 2023 for the purpose of sub-division,” the company said.
After the split, the new face value of each share will be Re 1. Also, the market price of each share will adjust in the ratio of split on ex-date.
Shares of Hyderabad-based company have delivered a positive return of 53 per cent in the last 6 months and a massive 88 per cent in a year period. YTD, the counter has declined around 6 per cent.
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Apollo Micro Systems caters to aerospace, defense and space, railways and automotive markets among others.
