Azad India Mobility’s equity-share subdivision is scheduled for October 23, 2026. Under the approved terms, one fully paid share with a face value of ₹10 will be split into five fully paid shares of ₹2 each. October 23 is also the record date for determining eligible shareholders.
The issuer’s October 6 filing with BSE says shareholders approved the action at the 65th annual general meeting on September 28. NSE subsequently issued its effective-date circular on October 14. This report is an upcoming-event explainer, not a claim that a new split was announced on October 20.
The verified split timetable
| Item | Verified position | Official evidence |
|---|---|---|
| Issuer and identifiers | Azad India Mobility Limited; NSE: AZADIND; BSE: 504731 | Issuer filing |
| Action and per-share basis | One fully paid ₹10 equity share becomes five fully paid ₹2 shares | Issuer split terms |
| Approval status | Shareholder approval at the 65th AGM on September 28, 2026 | Issuer filing |
| Record date and eligibility | October 23, 2026; used to identify shareholders entitled to the subdivision | Record-date intimation |
| Ex-date | October 23, 2026 | NSE corporate-actions data |
| Exchange effective date | October 23, 2026, under the circular dated October 14 | NSE/CML/76894 |
| Share rights | The issuer says the subdivided shares rank equally in all respects | Issuer split terms |
| Cash payment / share credit | No cash payout from this split; a share-credit date is not disclosed in these reviewed records | Reviewed scope of issuer filing |
How the five-for-one arithmetic works
The count factor is ₹10 ÷ ₹2 = 5. For illustration, 100 old shares would become 500 subdivided shares when the action is implemented. The aggregate face value is unchanged at ₹1,000: 100 × ₹10 before the split and 500 × ₹2 afterwards. Face value is a nominal accounting amount, not the stock-market price.
SEBI’s education material, pages 7 and 11, explains that a split divides existing shares and reduces their face value proportionately. It differs from a bonus issue. More shares do not by themselves mean greater investment value, and this subdivision is not a cash dividend.
Dates are not proof of completion
The NSE circular states when the exchange’s face-value change is scheduled to become effective. It does not establish that shares have already reached a shareholder’s account. This report has not verified a credit date, an individual trade’s purchase cut-off, a tax outcome or any future market price. Keep those questions separate from the disclosed record and ex-dates.
Source observations (UTC): issuer ; NSE circular ; NSE data ; SEBI education . These times record source checks, not completion of the split.