Infibeam Avenues shares to turn ex-date for spin off, Andhra Paper stock split, Insecticides India share buyback & more

Shares of Andhra Paper Ltd will be in focus on Wednesday morning as the stock turns ex-date for stock split. Infibeam Avenues will turn ex-date for spin off, Insecticides India will turn ex-date for share buyback while the Synergy Green Industries Ltd stock will turn ex-date for rights issue today. A couple of stocks such as General Insurance Corporation of India Ltd (GIC Re), Finolex Industries, Uttam Sugar Mills and Subros Ltd will turn ex-dividend today. 

In the case of Andhra Paper, the stock will split from face of Rs 10 each into five shares with face value of Rs 2 each. Today is also the record date for the purpose of determining the eligibility of shareholders of Andhra Paper for the purpose of the sub-division of shares. Shareholders approved the stock split at the 60th AGM of the company held on August 12.

Infibeam Avenues shares turn will turn ex-date for spin off today. Wednesday is also the record date for the purpose of determining eligibility of shareholders of Infibeam Avenues for the issue and allotment of equity shares of Odigma Consultancy Solutions pursuant to the Composite Scheme of Arrangement amongst Infibeam Avenues, Odigma Consultancy Solutions and Infibeam Projects Management Private Limited  and their respective shareholders and creditors. 

In the case of Insecticides India, the company announced a share buyback of 5,00,000 shares of face value Rs. 10 each for a consideration of Rs 1,000 per share for an aggregate consideration of upto Rs 50 crore. It constituted 4.97 per cent and 4.96 per cent of the aggregate of the paid‐up equity share capital and free reserves of the company, as per the audited standalone and consolidated financial statements. Today is the ex-date and record date for the same.

Synergy Green Industries shares would turn ex-rights today. The board of directors of the company had on March 14 approved the issue of fully paid up shares by way of a rights issue for an amount of not exceeding Rs 49 crore. Today is the record date for the purpose of determining the shareholders who will be eligible to apply for the rights issue. 

GIC RE shares will turn ex-date for dividend today. The reinsurer had announced a dividend of Rs 10 per share and the actual dividend will be paid on October 26. TV Today Network (Rs 8.50 per share), Agi Greenpac (Rs 6 per share dividend), Pondy Oxides (Rs 5 per share), Finolex Industries (Rs 2.50 per share), Uttam Sugar Mills (Rs2.50 per share) and Subros (Rs 1.80 per share) are some of the stocks that would turn ex-date for dividend today.