Bajaj Finserv board to consider stock split proposal

Bajaj Finserv board of directors will on Thursday consider the proposal for a stock split of company's equity shares.

Through stock split, a company increases its number of outstanding shares while reducing the price of each share without affecting the firm's overall market capitalisation.

The proposal will be taken for approval by the board of directors for sub-division of equity shares of the company of face value of Rs 5 each on July 28, 2022, Bajaj Finserv said in a regulatory filing on Monday.

Besides, it will also consider the proposal of issue of fully-paid bonus equity shares to the shareholders.

Bajaj Finserv will also announce the June quarter earnings on the same day. Stock of Bajaj Finserv -- the flagship holding company of Bajaj group's financial services -- closed at Rs 12,610.65 apiece on BSE, down by 1.02 per cent from previous close.