Britannia Industries on Thursday gave the approval to share split in 1:2 ratio in order to increase stock liquidity and affordability for small retail investors.
Britannia Industries on Thursday gave approval to share split in 1:2 ratio in order to increase stock liquidity and affordability for small retail investors. The shares with Rs 2 of face value will be split into two equity shares of Rs 1 each, the Kolkata-based company said in an exchange filing yesterday. The stock split would be subject to the approval of the members of the company, the company board said.
The company has proposed to sub-divide equity shares of face value of Rs 2 each into two equity shares of the face value of Re 1 each to make them more affordable and increase liquidity, Britannia Industries said.
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The shares of Britannia Industries ended 0.43 percent up on the BSE on Thursday. The shares were trading at Rs 6853 down 0.45 percent on BSE today at the time of reporting.
Meanwhile, Ajay Bodke, CEO & Chief Portfolio Manager, PMS at Prabhudas Lilladher earlier this year told FE Online that the leading biscuit manufacturer Britannia Industries has observed stellar growth in the last twenty years. The company is part of Ajay Bodke’s 10 multi-baggers.
In the last two decades, Britannia Industries shares have clocked returns with a CAGR of nearly 26 percent, according to Motilal Oswal wealth creation study. The company has been part of many studies featuring top 100 trusted Indian brands.