New Delhi, Dec. 9 -- The board of directors of Nuvama Wealth Management has set Friday, December 26, as the record date for determining the eligibility of shareholders for the proposed stock split.

Earlier in November, Nuvama Wealth Management's board approved a stock split in the ratio of 1:5. This means each fully paid-up equity share will be divided into five shares, with the face value adjusting from Rs.10 to Rs.2. The company currently has a total of 385.69 crore fully paid-up equity shares.

This marks Nuvama Wealth Management's first-ever stock split and represents a significant corporate milestone for the company. While the stock split does not affect the company's business or fundamentals, it will influence the stock's valuation...