Waterways Leisure Tourism, which operates the Cordelia Cruises brand, has set 26 August as the record date for its first-ever 1:10 stock split. With the record date falling on Wednesday, today is the final trading day for investors to purchase the shares and qualify for the corporate action.
The recently listed travel company had announced the stock split only seven trading sessions after making its stock market debut on 1 July. Under the approved proposal, every existing equity share with a face value of ₹10 will be subdivided into 10 equity shares with a face value of Re 1 each.
The company said the move is intended to improve the stock’s liquidity and make it more affordable, potentially expanding its appeal to a wider pool of investors. It expects the subdivision to boost trading volumes and broaden its shareholder base, while leaving the company’s overall capital structure and intrinsic value unchanged.
Under SEBI’s T+1 settlement cycle, investors need to buy the shares at least one trading session before the record date to ensure that they are credited to their demat accounts in time. Therefore, today is the last day to buy Waterways Leisure Tourism shares to become eligible for the 1:10 stock split.
Waterways Leisure Tourism shares
Waterways Leisure Tourism share price rose over 3% on Tuesday to hit a record high of ₹107.50 apiece on the BSE. However, despite the recent rally, the Waterways Leisure Tourism share price remains down nearly 90% from its IPO price of ₹808.
Waterways Leisure Tourism share price today opened at ₹102.90 apiece on the BSE, the stock touched an intraday high of ₹107.50 per share, and an intraday low of ₹101.30 per share.
Waterways Leisure Tourism, the operator of the Cordelia Cruises brand, had a muted stock market debut on 1 July, listing at ₹681 per share on the BSE, a discount of more than 16% to its IPO price of ₹808.
Waterways Leisure Tourism is India’s largest domestic ocean cruise operator and owns the Cordelia Cruises brand. Its flagship vessel, MV Empress, can accommodate more than 2,000 passengers and operates across several domestic destinations, including Mumbai, Goa, Kochi, Chennai, Lakshadweep, Visakhapatnam and Puducherry. The company also offers select international cruise itineraries to destinations such as Sri Lanka, Thailand, Singapore and Malaysia.
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