Investing.com — Apollo Micro Systems (NS:APLL) has announced a stock split and its Board has fixed a record date for the same through the passage of Circular Resolution last week.
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The Board of Directors of the custom-built electronics and electro-mechanical solutions provider had declared the sub-division or split of existing equity shares from one share having a face value of Rs 10 each to ten equity shares of the face value of Re 1 each fully paid up.
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The record date for the aforementioned stock split has been set as Thursday, May 4, 2023, for the determination of Apollo Micro Systems’ shareholders eligible to avail the corporate benefit.
Splitting a stock typically increases the stock’s liquidity in the capital market and makes it more affordable for small investors. Doing so increases the number of shares in the market while keeping the stock’s market capitalization unchanged.
Apollo Micro Systems is a multibagger stock that has rallied over 113% in the past one year, and has a market capitalization of Rs 595 crore.
