Nava Fixes Jan. 20 As Record Date For Share-Split Eligibility

Nava Ltd. said on Friday that Jan. 20 is the record date for determining the eligibility of stock-split of its existing shares.

According to the company's exchange filing, its board has fixed Jan. 20, 2025, as the "record date" for the purposes of determining the eligibility of shareholders for sub-division of existing one equity share.

Following the move, each fully paid up existing equity share with a face value of Rs 2 will be split into two fully paid up equity shares with face value of Re 1.

Earlier this month, the company had intimated via exchange filings about the amendment to its memorandum of association and articles of association, after its shareholders had approved sub-division/split of its equity shares.

Following the split of the current equity shares, the number of equity shares of Nava will double to 50,00,00,000. However, the authorised share capital of the company will remain Rs 50,00,00,000.

In a separate filing, the company stated that the trading window for its securities will remain closed from Jan. 1, 2025, till the expiry of 48 hours after the declaration of unaudited financial results for the quarter and nine months ending Dec. 31, 2024, for all designated persons under the company's code of conduct for regulating, monitoring and reporting of trading by insiders.

It will also include immediate relatives of the designated persons and all connected persons covered under its insider trading code.

Shares of Nava closed 1.38% higher at Rs 997.75 apiece on the BSE, compared to a 0.29% advance in the benchmark Sensex.