Bajaj Finserv’s board will convene on 28th July 2022, Thursday, to consider the proposal of a stock split of equity shares and the issue of bonus shares. The shares considered for the stock split have a face value of Rs. 5 each. On the same day, the board of directors will also consider and approve the unaudited financial results for the Q2 FY 2023.
After the announcement, Bajaj Finserv’s stock price surged over 4% to Rs. 13,181 apiece on BSE on Tuesday.
Bajaj Finserv will inform the board of directors’ decision to the stock exchanges on the same day. The aforesaid proposals are also subject to the approval of the shareholders.
A stock split means an outstanding equity share is split to increase the total number of shares issued. While this reduces the market price of each share, it doesn’t alter a company’s market capitalization. A stock split is usually done to make a company’s stock more affordable for investors, thus increasing liquidity.
Bonus shares, in contrast, are fully paid equity shares issued by a company. Both types of shares are issued to existing shareholders.
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