For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Muthoot Finance To Consider Stock Split In Board Meeting On 18 July

By Staff
|

On Friday, shares of Muthoot Finance rose by 3 percent to Rs Rs 1,144, the fourth straight day of gains after the non-banking finance company said that its board of directors will meet on 18 July to consider the proposal for a stock split.

Muthoot Finance To Consider Stock Split In Board Meeting On 18 July
 

In a regulatory filing, the company said its a meeting of the board is scheduled to be held on July 18, to consider and approve the proposal for sub-division/stock split of equity shares of the company, subject to shareholders approval.

Stock split divides existing shares of a company into multiple shares to boost the liquidity of the shares. Although the number of shares outstanding increases, the total value of the shares remains the same compared to pre-split amounts. Companies consider stock split to lower the trading price of the stock so that more retail investors are encouraged to buy the shares.

Further, the board will seek approval of shareholders for increase the borrowing powers of the company from existing Rs 50,000 crore to Rs 75,000 crore, the filing added.

Read more about: muthoot finance
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more