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MCX Share Split Starts Today: What Investors Need to Know
2 Jan
Summary
- MCX stock split from 1 share of ₹10 to 5 shares of ₹2 begins Friday, Jan 2.
- Shareholders as of Thursday's close are eligible for the 1:5 stock split.
- Mutual Funds hold over 37% stake; Kotak Mahindra Bank owns 15%.
Effective Friday, January 2, Multi Commodity Exchange (MCX) shares commenced trading on a split-adjusted basis. This historic event marks MCX's first stock split, converting each ₹10 share into five distinct shares, each with a face value of ₹2. The adjustment aims to enhance share affordability.
Shareholders who held MCX stock in their demat accounts by the close of trading on Thursday, January 1, are beneficiaries of this 1:5 stock split. Those acquiring shares on or after January 2 are not included. The split increases the number of shares while maintaining the overall market value.
As of the September quarter, MCX had no promoter shareholding. Mutual Funds represent a significant portion of public ownership with over 37%, while Kotak Mahindra Bank holds a substantial 15% stake. The exchange also serves over 2.4 lakh retail shareholders.
