Dividend, spin off, rights issue: Mazagon Dock, 5 others to remain in focus

Shares of Mazagon Dock Shipbuilders, Quess Corp, Hexaware Technologies and 3 others are set to remain in the spotlight during the next week following their announcements of corporate actions such as dividend, spin-off, stock split, and rights issue, etc., which is already shortened by 2 trading sessions. Kapil Raj Finance, Akme Fintrade (India), and Garment Mantra Lifestyle are among others to gain the spotlight.

 

BSE data suggests that these shares will be trading ex-date between Tuesday, April 15, 2025 – Thursday, April 17, 2025. Notably, the Indian equity markets will remain closed for trading on Monday, April 14 (Baba Saheb Ambedkar Jayanti), and Friday, April 18, on account of Good Friday.

 

 

Among them, Hexaware Technologies and Mazagon Dock Shipbuilders will remain in focus following their announcements of dividend reward of ₹5.75 per share, and ₹3 per share for their respective shareholders. They have set their record date for the same on April 15 and 16 respectively.

 

Meanwhile, the Non-Banking Financial Company (NBFC) Akme Fintrade (India) will gain spotlight following the announcement of sub-division / split of equity shares of the company, such that 1 equity share having face value of ₹10 each, fully paid-up, be sub-divided / split into 10 equity shares having face value of ₹1 each. The company has set the record date on April 18, 2025, for determining the eligibility of members for the purpose of sub-division / split of equity shares.

 

The NBFC Kapil Raj Finance will remain in focus as the stock trades ex-date following the announcement of sub-division / split of every 1 equity share having face value of ₹10/- each, fully paid-up into 10 equity shares having face value of ₹1/- each fully paid-up.

 

Additionally, Quess Corp is set to remain in focus following the announcement of spin-off. According to the exchange filing, Quess Corp will transfer parts of its business to the two resulting companies, Digitide Solutions Limited (Resulting Company 1) and Bluspring Enterprises Limited (Resulting Company 2). To facilitate this process, the Board of Directors has fixed April 15, 2025, as the record date to identify eligible shareholders. Shareholders of Quess Corp as of that date will receive one fully paid-up equity share of ₹10 each in both Digitide and Bluspring for every one share they currently hold in Quess Corp. The company has set Tuesday, April 15, 2025, for the purpose of ascertaining the shareholders of the Demerged Company.

 

Besides them, Garment Mantra Lifestyle, a company operating in the Garments & Apparels sector, is also expected to remain in focus following its announcement of a Rights Issue. The company plans to issue equity shares with a face value of ₹1 each, for a total amount not exceeding ₹50 crores. These shares will be offered to eligible equity shareholders as on the record date, which is Thursday, April 17, 2025. The Rights Issue will be priced at ₹1.20 per share, including a premium of ₹0.20. An amount of ₹0.30 per share (comprising a face value of ₹0.25 and a premium of ₹0.05) is to be paid at the time of application, with the remaining balance payable in two or more calls as decided by the Board or its committee. The issue will be offered in the ratio of 39 equity shares for every 20 fully paid equity shares held by existing shareholders on the record date.

 

The ex-date refers to the date when a stock begins trading without the entitlement to dividends, rights issues, or subdivision (stock split). This means that on or after this date, the dividend, subdivision (stock split), or rights issue will not be available to a new buyer of the stock. To qualify for these corporate actions, investors must own the stock before the ex-date. The beneficiaries of dividends, subdivision (stock split), or rights issues are determined by the company based on the list of investors recorded by the end of the record date.