Event Update - Affle India - ICICI Direct

Event: Stock Split

• Shares of the company were split on October 7, 2021 (ex-date) pursuant to the board and shareholder approval granted for sub-division of shares in its meeting on Sep 23, 2021. The record date for the same has been fixed as October 8, 2021. Subsequently, the shares of the company have been split in the ratio of 1:5 i.e. one (1) equity share of Rs. 10 face value has been subdivided into five equity shares of Rs. 2 face value each
• Today is the ex-date for the stock split. Thus, the stock price has adjusted to one-fifth

Key triggers for future price performance

• Key beneficiary of a shift of advertising budget to digital medium
• Increasing smart phone penetration and rising online shoppers (from 120 million to 450 million, CAGR of 24% in the next five years) is expected to drive 35% CAGR in the Indian region (50% of revenues)
• Affle expects organic growth of 25-30%. We expect organic revenue to grow at 35% CAGR over FY21-23E
• We expect 58% revenue growth in FY21-23E (organic & inorganic combined

For details, click on the link below: Link to the report

Source : Equity Bulls

Keywords

AffleIndia ICICIDirect EventUpdate stocksplit