360 ONE WAM Limited board approves stock split, 1:1 bonus issue

The Board of Directors ("Board") of 360 ONE WAM Limited (Formerly known as IIFL Wealth Management Limited) ("Company") at its meeting held today has approved the sub-division of each existing equity share of face value of Rs. 2/- (Rupees two only), into 2 (two) equity shares of face value of Re. 1/- (Rupee one only) each fully paid up and consequential alteration(s)to the Memorandum of Association and Articles of Association of the Company, subject to the approval of shareholders of the Company by way of a special resolution and any other approval(s) of the concerned regulatory authorities.

The board approved increase in the authorised share capital of the Company from Rs. 26,53,00,000/- (Rupees twenty six crore fifty three lakh only) to Rs. 50,00,00,000/- (Rupees fifty crore only) divided into 50,00,00,000 (fifty crore) equity shares of face value Re. 1/- (Rupee one only) each, as adjusted for sub-division of equity shares bearing face value of Re. 1/- (Rupee one only) each and consequential alteration to Clause V(a) of the Memorandum of Association of the Company, subject to the approval of shareholders of the Company by way of an ordinary resolution and any other approval(s) of the concerned regulatory authorities.

The board also approved issue of 1 (one) bonus equity share of the Company of face value Re. 1/- (Rupee one only) each, for every 1 (one) fully paid up equity share of face value Re. 1/- (Rupee one only) each (i.e. as adjusted for sub-division of the equity shares of the Company) subject to the approval of shareholders of the Company by way of a special resolution and any other approval(s) of the concerned regulatory authorities.

Shares of Iifl Wealth Management Limited was last trading in BSE at Rs. 1938.60 as compared to the previous close of Rs. 1865.80. The total number of shares traded during the day was 13093 in over 2272 trades.

The stock hit an intraday high of Rs. 1949.00 and intraday low of 1870.00. The net turnover during the day was Rs. 25054746.00.

Source : Equity Bulls

Keywords

360ONEWAM INE466L01020 StockSplit 2For1 SubDivision BonusIssue 1For1