1:10 Stock Split: Metal Company Shares To Trade Ex-Date On January 3

Inertia Steel has announced stock split and the record date when it will come into force. In an exchange filing, the company also announced the Record Date for the stock split. Meanwhile, on Thursday, the stock of Inertia Steel went up by Re 1 to Rs 775, up by 0.13 per cent in early trade. 

Inertia Steel: Record Date

In a BSE filing Inertia Steel said, "In terms of Regulation 42 of the SEBI Listing Regulations, we wish to inform you that the Company has fixed January 3, 2025 as the ‘Record Date’ for the purpose of determining the eligibility of Shareholders for the purpose of sub-division split."

Thus, shareholders of the company, who have the stock on Inertia Steel in their demat accounts as on January 3, 2025 would be eligible to receive the additional shares after the split. 

Inertia Steel: Stock Split
 

The BSE filing further read, "Equity shares from 1,19,78,800 equity shares of a face value of Rs. 10 (Rupees Ten) per share fully paid up, into 11,97,88,000 equity shares of the face value of Re.1 ( Rupee One) per share each fully paid up as approved by the shareholders through postal ballot approved on November 29, 2024."

The statement basically means, at present, the company has 1,19,78,800 shares with a value of Rs. 10 each. After the split, the company will have 11,97,88,000 shares, and each will be valued at Rs. 1. The decision was taken on November 29, 2024, via a vote.

Founded in 1984, Inertia Steel Limited is engaged in the business as merchants, commission agents, brokers, buyers, sellers, imports, exports and work as dealers, business agents, trading in iron and steel etc.