Each share of Apollo Micro Systems, with a face value of Rs 10 each will be divided into 10 equity shares with a face value of Re 1 each. The Shares of Apollo Mirco Systems hit an upper circuit on Tuesday ahead of its share trading ex-split on Thursday, May 4, 2023. The company had announced the sub-division of its equity shares in a 1:10 ratio earlier this year. The record date for the proposed split is fixed as May 4, which will determine the eligibility of shareholders. It means that investors having the delivery of shares of Apollo Micro Systems in their demat accounts as on May 4, 2023, will be considered eligible for the same. It implies that May 2, Tuesday is the last day to buy the shares to get delivery in the accounts. Each share of Apollo Micro Systems, with a face value of Rs 10 each will be divided into 10 equity shares with a face value of Re 1 each. The company had fixed May 4 as the record date for the same, the company had told the exchange earlier. A stock split is usually done to increase the liquidity of the stock in the market. Shares of Apollo Micro System surged 5 per cent to Rs 328.75, locked in the upper circuit limit, on Tuesday. The scrip had settled at Rs 313.10 during the previous trading session on Friday. The stock has gained more than 12 per cent in the last one week. Shares of Apollo Micro Systems have surged more than 55 per cent in the last six months, while it has surged over 150 per cent in the last one year. However, it is about 20 per cent below its 52-week high at Rs 379.70 on January 23, 2023. Apollo Micro Systems announced the decision to split equity shares in January 2023. The company aims to enhance the liquidity in the capital market, to widen the shareholder base and to make the shares more affordable to small investors, it said while explaining the rationale for the action. Incorporated in 1997, Apollo Micro Systems is engaged in the business of electronic, electro-mechanical, engineering designs, manufacturing and supply. It made its Dalal Street debut in 2018. The Hyderabad-based company designs, develops and sells high-performance, mission and time-critical solutions to defense, space and homeland security for the Ministry of Defense, government-controlled public sector undertakings and private sectors.