Stock Split: Info Edge board approves 1:5 share division; Check record date and other details

Shares of Info Edge (India) Ltd. are trading with gains of 2% after the company's board approved a split of its equity shares. The company's board has approved a stock split in the ratio of 1:5.

This means that the company will split one equity share of face value of ₹10 into five equity shares of face value of ₹2 each.

Aside of the stock split, the company will also be declaring its December quarter results today

Info Edge shares currently carry a face value of ₹10 each and this is be the first instance of the company dividing its stock.

Earlier, the company has issued bonus shares to its shareholders. However, that was back in 2010 and 2012 when it had declared a 1:1 bonus issue, meaning one free share for every one share held.

Over the last three years, Info Edge has paid ₹66 per share as dividend to its shareholders.

Shares of Info Edge India ended little changed on Tuesday at ₹7,708. The stock is down 15% from its record high of ₹9,128.