Multibagger Vishnu Chemicals announces 1:5 stock split

Vishnu Chemicals has approved a 1:5 stock split in its board meeting on Monday. The company has announced a split in 1 share of a face value of Rs 10 into 5 shares of Rs 2 face value, implying 1:5 stock split.

“Approved the sub-division/ split of 1 equity share of face value of Rs. 10/- fully paid up into 5 equity shares of Rs. 2/- each fully paid up, subject to the approval of the members of the company and regulatory/statutory approvals as may be required. The record date for the sub-division of equity shares shall be decided by the Board and will be intimated to the exchanges,” said the company’s filing with the exchange.

The company in the filing said the split is being considered to enhance the liquidity in the capital market, to widen shareholder base and to make the shares more affordable to small investors.

Also, it highlighted that the split shall be completed within 3 months of the shareholders’ approval.

Shares of Vishnu Chemicals have yielded multibagger returns with 3-year returns at 1277%, while its year-to-date return is 117%.

Vishnu Chemicals is a pure play chemicals manufacturer and supplies its products across industries, including steel, glass, pharmaceutical, pigments and dyes, leather and allied industries.