Info Edge Announces 1:5 Stock Split: Share Price Surges 3%

Info Edge, a leading online classified and recruitment company, has announced a stock split in the ratio of 1:5. The decision was approved by the company’s board and disclosed through an exchange filing on February 5, 2024. Following the announcement, Info Edge’s share price surged nearly 3% as of 12:50 PM.

Rationale Behind the Stock Split

The company stated that the primary objective of the stock split is to enhance liquidity and encourage participation from retail investors by making its shares more affordable. Lowering the face value of each share enables smaller investors to invest in the company at a more accessible price point, potentially broadening the shareholder base.

Breakdown of the Stock Split

• Existing equity shares of ₹10 face value each will be subdivided into 5 equity shares with a face value of ₹2 each.
• Authorised share capital post-split will stand at ₹75 crore, with equity shares of ₹2 face value each.
• The process is expected to be completed within 2 months, subject to shareholder and regulatory approvals.

Record Date Yet to Be Announced

While Info Edge has confirmed the stock split, the company has not yet disclosed the record date for the adjustment. In a regulatory filing, the company clarified that the record date will be determined after obtaining necessary approvals and will be communicated in due course.

Quarterly Earnings Report Awaited

Apart from the stock split announcement, Info Edge is set to release its fiscal Q3 earnings report on February 5, 2025.

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