On Tuesday, the price of Apollo Mirco Systems shares hit an all-time high. On Thursday, May 4, 2023, the shares will start selling without the split. The company said earlier this year that it would split its stock shares in a ratio of 1:10.
The planned split has a record date of May 4, which will show which shareholders are eligible. It means that buyers who have Apollo Micro Systems shares in their demat accounts as of May 4, 2023, will be able to get the same. It means that Tuesday, May 2, is the last day to buy the shares and have them sent to your account.
Each share of Apollo Micro Systems, which is worth Rs 10, will be split into 10 stock shares, each worth Rs 1. The company told the market earlier that the record date for this would be May 4. Most of the time, a stock split is done to make the company more valuable on the market.
On Tuesday, shares of Apollo Micro System went up 5% to Rs 328.75, which was the upper circuit limit. The stock ended Friday’s trade session at Rs 313.10. In the past week, the stock has gone up by more than 12%.
Apollo Micro Systems’s stock price has gone up more than 55% in the last six months and more than 150% in the last year. But at Rs 379.70 on January 23, 2023, it was 20% below its 52-week high.
Apollo Micro Systems said it would split its shares of stock in January 2023. The company said that it was doing this to make the capital market more liquid, to increase the number of people who own shares, and to make the shares more cheap for small investors.
Apollo Micro Systems has been in business since 1997. It develops, makes, and sells electronic, electromechanical, and engineering products. In 2018, it opened on Dalal Street.
The Hyderabad-based firm designs, develops, and distributes high-performance, mission- and time-critical systems for defence, space, and homeland security for the Ministry of Defence, government-controlled public sector organisations, and the private sectors.