Bajaj Finance today said its shareholders have approved proposals to split its stock in the 1:5 ratio and also to issue bonus shares in 1:1 ratio.
The shareholders also approved the issuance of bonus shares, under which Bajaj Finance will make allotment in the ratio of 1:1.
These shareholders would get equity shares of face value of Rs 2 each upon sub-division of equity shares of face value of Rs 10 each, and fully paid up bonus equity shares of face value of Rs 2 each in the proportion of one bonus equity share for every one equity share of face value of Rs 2 (that is as adjusted for sub-division of equity shares).
Bajaj Finance stock closed 0.15 per cent up at Rs 10,772 on BSE.
The company shares have appreciated by over 25 per cent from Rs 8,592.10 on July 11, when it had first announced the stock split and bonus issue plans.
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