Jai Balaji Industries Announces 1:5 Stock Split – Know the Record Date

Jai Balaji Industries Limited (JBIL), a key player in the steel manufacturing sector, has announced its first-ever stock split. The company, incorporated in July 1999, produces DI pipes, ferroalloys, and basic steel products. With four integrated steel plants across West Bengal and Chhattisgarh, JBIL has cemented its reputation in the industry. Jai Balaji’s share price recorded an intraday high of ₹911.10 on the NSE as of 9:34 AM on December 24, 2024.

Key Details of the Stock Split

The board of Jai Balaji Industries has fixed January 17, 2025, as the record date for its stock split. Each equity share with a face value of ₹10 will be split into five shares with a face value of ₹2 each. This move follows shareholders’ approval through a postal ballot on December 19, 2024.

Purpose of the Stock Split:

• Enhance share liquidity by making stocks more affordable for retail investors.
• Broaden the investor base by lowering the entry price per share.

Impact on Share Capital

The company’s current paid-up capital stands at ₹182.45 crore. Post-split, the number of shares will increase fivefold while the overall capital remains unchanged, reflecting the structural adjustment.

About Jai Balaji Industries

Established in 1999, JBIL is the flagship company of the Jai Balaji Group. It manufactures value-added steel products such as DI pipes, ferroalloys, sponge iron, pig iron, TMT bars, and wire rods. The company also operates captive power plants to ensure energy efficiency in production.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.