Sanghvi Movers has made a public announcement regarding a split in its equity share face value from Rs. 2 to Rs. 1. This means that for the eligible shareholders as on the record date which is 27 September 2024, their 8 equity share(s) each of face value Rs. 2 will be converted to 16 equity share(s) each of face value Rs. 1.
The detailed announcement by the company can be found here.
Please find some helpful FAQs on the share split of Sanghvi Movers below
1. How to participate in the share split of Sanghvi Movers?
If you hold the shares of Sanghvi Movers as on the record date which is 27 September 2024, then you are eligible for the share split action.
2. In case of share split of Sanghvi Movers, does the ISIN number of the security changes?
Yes. In case of share split, the face value of the share changes and hence the ISIN number also changes.
3. In the holdings, old quantity of Sanghvi Movers is shown on the Ex-Date. Why is the holding not updated?
Portfolio holdings are generated as per the previous settlement day and thus on the Ex-Date which is 27 September 2024, old quantity will be visible.
4. How to participate in the share split action if you are not an existing share holder of Sanghvi Movers?
If you are not an existing shareholder of Sanghvi Movers but want to participate in the share split action, make sure to purchase shares of Sanghvi Movers before the Ex-Date which is 27 September 2024.
5. What is the impact of share split action on the stock price of Sanghvi Movers?
On the Ex-Date which is 27 September 2024, the price of the stock gets adjusted due to the share split action. Due to this adjustment, you see a dip in your unrealized profit. The dip is corrected once the shares with new face value of Rs. 1 are credited to your holdings.
6. What is the impact of share split action on the cost price of Sanghvi Movers in the portfolio?
The cost of acquisition of shares gets adjusted as per the new face value of Rs. 1 and the holding period remains the same as per ITD guidelines.
7. If shares of Sanghvi Movers are bought via MTF, is the shareholder eligible for share split action?
Yes, even if a shareholder has bought the shares of Sanghvi Movers via MTF, the shares with new face value of Rs. 1 shares will be issued the and MTF holdings will get automatically updated.
8. If shares of Sanghvi Movers are bought and pledged for Margin, is the shareholder eligible for share split action?
Yes, even if a shareholder has bought the shares of Sanghvi Movers and pledge them to get margin, the shares with new face value of Rs. 1 shares will be issued the and pledge holdings will get automatically updated.
What do you think about this split action? Feel free to use this thread to discuss.