Nestle India shares turn ex date for stock split; FMCG stock reacts

Shares of were in focus in Friday's trade, as the FMCG stock turned ex date for stock split today. Today is also the record date for for the purpose of determining eligible Nestle India shareholders who are eligible for the stock split. All shareholders of Nestle India with their names in the list at the end of record date, i.e.

today will be eligible to receive split shares. In an October filing, Nestle India said its board approved: "Sub division/ split of each equity share of face value of Rs. 10/ (Rupees ten only) each, fully paid up into 10 (ten) equity shares of face value of Re. 1 / (Rupee one only) each, fully paid up by alteration of Capital Clause of the Memorandum of Association of the Company, subject to the approval of the members of the company to be sought by means of Postal Ballot." Nestle India later fixed Friday, January 5 as the “Record Date” for determining entitlement of equity shareholders for the purpose of sub division/ split of existing equity shares of the Company, such that 1 (one) equity share having face value of Rs 10 each, fully paid up, will be sub divided into 10 (ten) equity shares having face value of Re.

1/ (Rupee one only) each, fully paid up, ranking pari passu in all respects which was approved by shareholders through Postal Ballot on December 8. Also read: Also read:.