Tiger Logistics India on Saturday announced splitting of its shares in the ratio of 1:10 to increase public participation in the company's shareholding.
The company said the move will increase liquidity of stock so that small shareholders/investors can also buy its shares.
It has fixed March 4 as the record date to subdivide each share having a face value of Rs 10 into 10 shares, the logistics player said in an exchange filing.
The revised face value of each share would be Re 1, the company said.
Tiger Logistics (India) is a global logistics player with expertise in handling the domestic and international import and export of cargo projects.
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On an annual basis, the shares of the logistics firm have given multibagging returns of nearly 120 per cent on the Bombay Stock Exchange.
Tiger Logistics' shares closed at Rs 809 price level up by almost 3 per cent or 23 points on BSE.
Last month, it had bagged a government tender from Hindustan Petroleum Corporation Ltd., marking the logistic firm's entry in the petro segment.
In the quarter ending December, Tiger Logistics (India), reported revenue from operations of Rs 51.95 Cr, a slight decrease from Rs 53.57 Cr in the previous quarter. The company posted a net income of Rs 53.04 Cr in Q3FY24, down from Rs 53.99 Cr in Q2FY24. The operating income decreased by 1.12 per cent quarter-on-quarter and 55.96 per cent year-on-year.
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(With Inputs From PTI)
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