Shriram Finance share declines 6% as it trades ex-stock split today

Shriram Finance share price: Shriram Finance share split came into effect today as the company had fixed January 10, 2025, as the record date for the stock split

Shriram Finance share split: Shriram Finance share price declined 6 per cent on the stock exchanges on Friday, January 10, 2025. The fall in Shriram Finance shares came as the stock began trading ex-date for stock split today.

 

Shriram Finance share hit an intraday low of Rs 528.7 per share on the BSE and Rs 529 on the NSE. By comparison, the Sensex and Nifty indices today were down 0.4 per cent each at 10:40 AM.

 

Shriram Finance share split came into effect today as the company had fixed January 10, 2025, as the record date for the stock split. Thus, Shriram Finance shares opened today at the adjusted stock split price of Rs 566 compared with the previous close of Rs 2,828.95 on NSE. The shares opened at Rs 562.5 per share on the BSE.

 

“The company has fixed Friday, January 10, 2025 as the ‘Record Date’ for determining the entitlement of equity shareholders for the purpose of sub-division/split of face value of each equity share of face value of Rs 10, fully paid-up, into 5 equity shares of face value of Rs 2,” the company had said in a stock exchange filing on December 23, 2024.

 

Effectively, each Shriram Finance share has split into 5 shares with the face value of Shriram Finance shares revising down to Rs 2 from the existing face value is Rs 10.

 

Notably, the new shares of Shriram Finance following the share split will be credited into the Demat account of eligible shareholders post listing.

 

To that effect, the National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL) have assigned a new ISIN: INE721A01047 for equity share of face value of Rs 2 each fully paid-up, effective today.

 

A stock split is one of corporate actions wherein companies split the face value to make the shares cheaper and affordable to small investors or traders.

 

Over the past one year, Shriram Finance share price has doubled investors’ wealth by surging 109 per cent on the exchanges. By comparison, the benchmarks climbed 8 per cent in the last one year.

 

Shriram Finance is the flagship company of Shriram Group, primarily engaged in the business of financing commercial vehicles, passenger vehicles, construction equipment, farm equipment, MSME, two-wheelers, gold, and personal loans.