KFC & Pizza Hut Operator Sapphire Foods Announces 1:5 Stock Split

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Synopsis:

Sapphire Foods India Limited plans a 1:5 stock split, reducing face value from ₹10 to ₹2 per share. This aims to enhance liquidity and expand the shareholder base. Approval is pending at the 15th AGM, with completion expected in three months.

Sapphire Foods Stock Split News Today

On June 19, 2024, Sapphire Foods India Limited, operator of KFC and Pizza Hut outlets, announced that its board of directors had approved the stock split of the company’s equity shares.

This strategic decision involves splitting each existing equity share with a face value of ₹10 into five equity shares with a face value of ₹2 each.

Pending Shareholder Approval

The proposed share split is subject to approval from the company’s shareholders at the upcoming 15th Annual General Meeting (AGM).

According to a stock exchange filing, the resolution to alter the share capital structure will be presented for consideration.

Explore:Sapphire Foods India Ltd Share Price

Rationale Behind the Split

The primary objective of this stock split is to enhance the liquidity of Sapphire Foods' equity shares in the capital markets.

By reducing the face value of shares, the company aims to broaden its shareholder base, making shares more accessible to a larger number of investors.

Implementation Timeline

Sapphire Foods stock split process is likely to complete within three months of obtaining shareholder approval and on fulfilling the necessary formalities.

The company will announce the specific dates for the 15th AGM and the record date for the share split in due course.

This strategic move by Sapphire Foods is anticipated to make the company's shares more attractive and increase trading activity, thereby potentially improving the overall market performance of its stock.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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