Introduction:
Leading pharmaceuticals company has approved a 1:5 stock split, reducing the face value of shares from ₹10 to ₹2. The move aims to increase market liquidity, attract more investors, and enhance affordability, subject to shareholder approval via postal ballot.
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Share price movement of IOL Chemicals:
On December 30, 2024, IOL Chemicals & Pharmaceuticals Ltd opened at ₹415.70, up 1.41% from its previous close of ₹409.95. The stock reached a high of ₹431.35 (5.21%) and a low of ₹415.70. By 10:29 AM, it traded at ₹424.35, a 3.51% increase, with a market cap of ₹2,491.17 crore.
IOL Chemicals announces 1:5 stock split:
IOL Chemicals and Pharmaceuticals Limited announced the approval of a 1:5 stock split by its Board of Directors on December 27, 2024. The split will reduce the face value of each equity share from ₹10 to ₹2, making shares more affordable.
The company stated that the proposed stock split is subject to shareholder approval via a postal ballot. The move aims to enhance market liquidity, increase investor participation, and attract a wider range of investors by making the stock more accessible to retail investors.
The company’s authorized share capital will remain at ₹80 crore post-split, with the number of issued, paid-up shares rising from 5.87 crore to 29.35 crore. The record date for determining eligibility for the split will be announced soon, with the expected completion within two months after shareholder approval.
Stock performance of IOL Chemicals for Period of 1 week, 6 months and 1 year:
IOL Chemicals & Pharmaceuticals Ltd has shown mixed performance, with a slight 0.50% decline over the past week and a 5.45% drop over the last six months. However, it experienced an 11.5% decrease over the past year.
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Shareholding pattern of IOL Chemicals:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 48.20% | 48.20% | 48.20% |
| FII | 1.60% | 1.40% | 1.40% |
| DII | 0.10% | 0.10% | 0.30% |
| Public | 50% | 50% | 50% |
About IOL Chemicals:
IOL Chemicals (NSE: IOLCP) is a leading global pharmaceutical and specialty chemicals company. With over three decades of innovation and growth, it focuses on delivering high-quality APIs and intermediates while investing in people, experience, and passion.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
