The board of Motisons Jewellers Ltd., Jaipur-based jewellery retail company, has decided to split its one share with a face value of ₹10 each into 10 shares of face value of ₹1 each after its board meeting on Thursday, September 19.

This is the first such corporate action that the company plans to undertake.

A stock split is generally considered by a company to increase its outstanding shares, and also improve trading liquidity by making the stock more affordable to its shareholders.

Record date for the stock split has been fixed as Saturday, November 9, 2024.
A record date is the day on which a company determines which shareholders are eligible to benefit from the corporate action, whether it be a dividend, bonus, stock split or a share buyback.

Motisons Jewellers had started its jewellery business in 1997 with a single showroom in Jaipur and later expanded network to four showrooms under the Motisons brand.

The product portfolio comprises over 300,000 jewellery designs, including a wide range of gold, diamond and other jewellery items across different price points.

The company has reported better financial numbers in the past years, with net profit in the year ended March FY23 surging 50.5% to ₹22 crore and revenue rising 16.5% to ₹366 crore as against the previous year.

The profit in the first quarter ended June FY24 came in at ₹5.5 crore and revenue at ₹86.7 crore.

Shares of Motisons Jewellers Ltd. were trading 1.58% lower on Thursday at ₹274.82. The stock is up nearly 5x from its IPO price of 55 per share.