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Sapphire Foods India Limited announces a stock split, lowering face value from ₹10 to ₹2 per share. Effective September 5, 2024, this move aims to increase share liquidity and attract more investors, potentially boosting Sapphire Foods' share price.
Sapphire Foods India Limited, which operates well-known fast-food brands like KFC and Pizza Hut in India, had recently announced a 1:5 stock split to enhance the liquidity of its equity shares. This decision is part of the company’s broader strategy to make its shares more attractive and accessible to a wider range of investors.
The board of directors at Sapphire Foods has decided to split each existing equity share with a face value of ₹10 into five equity shares with a face value of ₹2 each. This stock split will take effect with a record date set for September 5, 2024, meaning shareholders as of that date will be eligible for the split.
The decision to split the shares is designed to make Sapphire Foods’ shares more accessible to a broader range of investors, particularly retail investors. By lowering the price per share, the company aims to increase market participation and boost trading volumes.
This move is expected to enhance liquidity, making it easier for investors to buy and sell shares, which could positively impact the Sapphire Foods share price in the long term.
This stock split aligns with Sapphire Foods’ strategic goals as it continues to strengthen its position in the fast-food and quick-service restaurant (QSR) industry. The move, approved at the company’s 15th Annual General Meeting (AGM) on August 9, 2024, is a key step towards broadening the company’s shareholder base and driving future growth.
In Monday’s trading session, the Sapphire Foods share price closed at ₹1,565, reflecting a modest gain of ₹2.05 or 0.13%. The stock has shown a decent performance in 2024, delivering an 11.05% return year-to-date, and a 17.22% return over the past 12 months.
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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