Bajaj Finserv stock split news: Company's board to consider proposal on Thursday; know what is stock split

In a major corporate development, the leading NBFC company Bajaj Finserv will consider the proposal for a stock split of company's equity shares this week. The board of directors will decide on the stock split on Thursday. 

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.

With inputs from PTI