Bajaj Finserv Ltd approves 1:1 bonus issue, stock split

The Board of directors of Bajaj Finserv Ltd at its Meeting held on 28 July 2022 has approved to issue of One bonus equity shares of face value of Rs. 1/- (Rupees one only) for every 1 (one) fully paid-up equity share of Rs. 1/- (Rupees one only).

The board also approved sub-division of each existing equity share of face value of Rs. 5/- (Rupees Five only) into Five (5) equity shares of face value of Rs. 1/- (Rupee One Only) fully paid-up.

The Company and it's subsidiaries have grown significantly, in terms of business and performance, over the years. This is reflected in the share price of the Company, which touched a peak of Rs. 19,325 in October 2021. The price since then has hovered around Rs. 12,200. Currently the retail/individual shareholders comprise 98% of the total number of shareholders holding around 17.52% of paid-up value of shares. Amongst its peers. the share price of the Company is one of the highest while having one of the smallest capital bases. As and when the stock price rises further. it will be increasingly difficult for small potential shareholders to partake in the company's future.

Keeping with the spirit of inclusion and in order to reward the shareholders. the Board of Directors. at its meeting held today, approved and recommended the above corporate actions.

Shares of Bajaj Finserv Limited was last trading in BSE at Rs. 14652.30 as compared to the previous close of Rs. 13303.15. The total number of shares traded during the day was 50996 in over 12743 trades.

The stock hit an intraday high of Rs. 14777.85 and intraday low of 13500.00. The net turnover during the day was Rs. 729866068.00.

Source : Equity Bulls

Keywords

BajajFinserv INE918I01018 BonusIssue 1For1 StockSplit 5For1