Shares of Varun Beverages surged 6% to an intra-day high of Rs 665.65 on BSE as the stock has started trading on an ex-split basis from today (Thursday), which was the record date fixed for the purpose of its 2:5 stock split.The shareholders whose names appear in the company's database on the record date, ie, September 12, are eligible for the said stock split.“The board of directors fixed Thursday, September 12, 2024 as the “record date” for determining entitlement of equity shareholders for the purpose of sub-division/split of existing equity shares of the company, such that each equity share having face value of Rs 5/- (rupees five only) each fully paid-up, be subdivided/split into such number of equity shares having face value of Rs. 2/- (rupees two only) each fully paid-up,” said the company in a filing to the exchanges.The stock split implies that the authorized share capital of the company is Rs 1,000 crore divided into 2,000 crore shares of face value of Rs 5 each will now be equivalent to Rs 1,000 crore divided into 500 crore shares of face value of Rs 2 each.Prior to this, Varun Beverages has split the face value once in June 2023, splitting the face value of its shares from Rs 10 to Rs 5.Also read: Last date to buy for eligibility! KIMS 1:5 stock split record date tomorrowFor the second quarter ended June 2024, the company has reported a profit after tax (PAT) of Rs 1,261.83 crore, up by 26% YoY while its revenue grew by 28% YoY to Rs 7,196.86 crore from Rs 5,611.4 crore for the corresponding quarter of the previous year.The shares of Varun Beverages have increased by 78.4% in the last one year while gaining 32% on a year-to-date basis.
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