Also read: What is a stock split?
As per the filing with the exchanges, the company is considering the stock split to enhance the liquidity in the capital market, widen the shareholder base and make the shares more affordable to small investors.
Investors’ eligibility for the said split shall be determined based on the record date i.e. October 3, 2022. This means that investors holding equity shares of Maximus International in their demat account as on the record date will be entitled to receive split shares.
Maximum International is a multibagger stock with YTD returns of 296%. Its one-month return is at 36%, while in the last one year it has yielded returns to the tune of 276%.
Ahead of the stock split, the company’s shares in trade on Wednesday ended with a cut of 5% at Rs 387.55 per share.
Maximus International is a subsidiary of which is a Vadadora-based NBFC. The company is engaged in the business of importing and exporting lubricants, different kinds of base oils and other chemical products used chiefly by the automotive, power and metal manufacturing industries among others.