Waterways Leisure Tourism has approved a 1:10 stock split days after its market debut. The move requires shareholder approval and seeks to enhance liquidity and affordability for retail investors.
The Indian cruise operator, which runs Cordelia Cruises, made the announcement seven days after its listing on the BSE. The stock split will not change the company's market capitalisation or intrinsic value.
Company officials stated that the split aims to improve stock liquidity, make shares more affordable, and increase retail participation. A record date for the split remains pending.
The decision comes as the smallcap firm looks to broaden its investor base following its recent IPO.