JSW Dulux’s approved stock split is scheduled to take effect on October 22, 2026. Each fully paid equity share with a face value of ₹10 will be divided into ten fully paid shares of ₹1 each. The company has also fixed October 22 as the record date for determining eligible shareholders.
This is an upcoming implementation of an earlier decision, not a new split announcement made on October 20. The company’s September 22 filing says shareholders approved the subdivision through a postal ballot on September 20.
The dates and terms to distinguish
| Item | Verified position | Official evidence |
|---|---|---|
| Issuer and symbol | JSW Dulux Limited; NSE: JSWDULUX | Issuer filing |
| Action and per-share basis | One fully paid ₹10 equity share becomes ten fully paid ₹1 shares | Issuer split terms |
| Approval status | Shareholder approval on September 20, 2026, through postal ballot | Issuer filing |
| Record date and eligibility | October 22, 2026; used to determine shareholders eligible for the subdivision | Record-date intimation |
| Ex-date | October 22, 2026 | NSE corporate-actions data |
| Exchange effective date | October 22, 2026, under the circular dated October 14 | NSE/CML/76889 |
| 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 |
Ten shares do not mean ten times the value
Face value is the nominal amount attached to a share, not its traded market price. For this subdivision, the share-count factor is ₹10 ÷ ₹1 = 10. An illustrative holding of 100 old shares would therefore correspond to 1,000 subdivided shares once implemented. Their aggregate face value remains ₹1,000: 100 × ₹10 before and 1,000 × ₹1 after.
That calculation is about share structure, not a forecast of investment value. SEBI’s investor-education material, pages 7 and 11, distinguishes a split of existing shares from a bonus issue and explains proportional adjustment. This action is not a cash dividend, and a larger number of shares is not by itself a gain.
What remains to be checked
The NSE circular establishes the exchange’s scheduled effective date; it is not evidence that the action has already been completed. This report does not verify a depository-credit date, a purchase cut-off for an individual trade, tax treatment or a post-split market price. Those should not be inferred from the record date alone.
Source observations (UTC): issuer ; NSE circular ; NSE data ; SEBI education . These times record source checks, not completion of the split.