Pune Wealth Management：Singham stock goes for split： Record date for Ajay Devgn-owned stock tomorrow

Ajay Devgn-owned Panorama Studios International has announced July 31 as the record date for its 1:5 stock split. This means today is the last day to purchase shares in order to qualify for the split.

Earlier in June, Panorama Studios revealed that it would split its shares in a 1:5 ratio. As a result, each share with a face value of Rs 10 will be split into 5 shares with a face value of Rs 2 each.

The record date for the split was announced in July. Investors who purchase the stock on or after the record date will not be eligible to benefit from the stock split.

Also read: AIA Engineering to consider share buyback. Shares surge 7%

“We wish to intimate you that Panorama Studios International Limited (‘the Company’) has fixed Wednesday, July 31, 2024 as ‘Record Date’ for the purpose of determining the eligibility of shareholders of the Company for Subdivision/Split of each fully paid-up equity share having face value of Rs 10/- (Rupees Ten Only) each be Sub-divided into 5 (Five) fully equity shares having Face value of Rs.2/- (Rupees Two Only), as approved by the shareholders in the Extra-Ordinary General Meeting dated 2nd July, 2024,” the company had said in a filing to the stock exchanges.

According to the latest shareholding pattern of the company available on BSE, the company promoters hold a 67.16% stake in the company, and the public holds the remaining 32.84%, including a 1.5% stake, which Singham-actor Devgn holds.

As per the authorized share capital, 1.60 crore shares of the company with a face value of Rs 10 will stand at 8 crore shares with a face value of Rs 2.

“The Company and its subsidiaries have grown significantly, in terms of business and performance, over the yearsPune Wealth Management. This is reflected in the share price of the CompanySimla Wealth Management. As and when the stock price rises further, it will be increasingly difficult for small potential shareholders to participate in the company's future. Keeping with the spirit of inclusion and in order to reward the shareholders. The Board of Directors at its meeting held today, approved and recommended the said corporate actions,” the company in its filing while commenting on the rationale for the split.

Panorama Studios offers a comprehensive array of film-related verticals under a single roof with a diverse portfolio encompassing project development, production, post-production, distribution, music, equipment rental, and publicity design.

Notably, Panorama is the only studio, aside from Yashraj Studios, that is successfully operating across all six major verticals, making it a formidable player in the filmmaking industry. Panorama Studios' shares have provided impressive returns of 389% to its investors over the past year. Additionally, on a year-to-date basis and over the past six months, the stock has delivered multibagger returns of 197% and 104%, respectively.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their ownAgra Wealth Management. These do not represent the views of Economic Times)

Chennai Stock