Bajaj Finserv stock split
Bajaj Finserv stock prices went up by 10 percent to Rs 14,579 on the BSE after the board agreed to split the shares in the ratio 1:5 and issue bonus shares in the ratio 1:1. On July 28, 2022, it was announced by the board that going forward the face value of existing shares will be subdivided in the ratio of 1:5 implying that each existing share of Rs 5 will be divided into 5 shares of Rs 1. In addition to the stock split, the board also announced the issue of 1 bonus share for every equity shareholder.
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What will be the Impact of the decision
Since the news broke out, the stock of Bajaj Finserv has surged up to 16 percent in the last three trading sessions whereas in July the stock surpassed the market by 33 percent in comparison to 7 percent surge in the S&P BSE Sensex. Post the stock split the authorized shares of the company will reach 1 Billion equity shares with a face value of Rs 1 and after the issue of bonus shares the authorized capital shares of the company will jump to 2 Billion equity shares with the same face value of Rs 1. Bajaj Finserv is the holding company under the Bajaj group and among India’s most sought-after NBFCs in the Indian market with over 50 million customers across the country.
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