Smallcap company announces 1:10 stock split 7 days after listing on market

Waterways Leisure Tourism announced a 1:10 stock split, with each equity share of face value Rs 10 to be subdivided into 10 shares of Rs 1 each, subject to shareholder approval. The company said the move aims to enhance liquidity and make the stock more affordable for retail investors, with the record date yet to be determined. The stock had listed at Rs 681 on BSE on July 1, a 16% discount to its IPO price of Rs 808, but later surged 33% to a record high of Rs 908.30.