The decision is taken to increase stock liquidity and affordability for small retail investors.
The board of Britannia Industries has given approval to stock split in 1:2 ratio. The decision is taken to increase stock liquidity and affordability for small retail investors.
The company said that the shares with Rs 2 of face value will be split into two equity shares of Rs 1 each. The stock split will be subject to the approval of the members and authorities as applicable.
Britannia said, "There had been a significant rise in the market price of the equity shares of the Company over a period of last one year. In order to improve the liquidity of the Company's Equity Shares in the stock markets and to make them more affordable for the small retail investors, it is proposed to sub-divide Equity Shares of face value of Rs 2 each into 2 Equity Shares of the face value of Re 1 each."