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Shares of Bajaj Finserv rise as the stock trades ex-split

Shares of Bajaj Finserv rise as the stock trades ex-split

Shares of Bajaj Finserv rise as the stock trades ex-split
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By CNBCTV18.com Sept 13, 2022 10:31:41 AM IST (Published)

As an explanation for the stock split and bonus shares, Bajaj Finserv said it and its subsidiaries have grown significantly over the years in terms of business and performance. Share prices of the Company peaked at Rs 19,325 in October 2021.

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Shares of Bajaj Finserv climbed over 5 percent as the stock is trading ex-split and bonus on the BSE on Tuesday, September 13, a day ahead of the record date to determine who is eligible to receive the bonus equity shares and subdivision of existing equity shares.
At 10:05 am, shares of Bajaj Finserv were trading at Rs 1,809, up by 5.45 percent from the previous close on the BSE.
The company has set September 14 as the record date for determining stockholders who are entitled to the stock split benefit, the company said in a regulatory filing in August.
Each equity share of Bajaj Finserv with a face value of Rs 5 will be split into five equity shares with a face value of Rs 1 each. The ratio of the stock split is 5:1.
After the stock split, eligible shareholders of Bajaj Finserv will receive an additional five shares on top of their existing shares, increasing the amount of Bajaj Finserv shares in their portfolio.
Additionally, the cost of Bajaj Finserv shares will decrease and become more accessible to both new and current investors.
As an explanation for the stock split and bonus shares, Bajaj Finserv said it and its subsidiaries had grown significantly over the years in terms of business and performance. Share prices of the company peaked at Rs 19,325 in October 2021.
The stock split has various advantages, one of which is that it makes these shares more accessible to both current and potential investors. The action increases the listed company's liquidity as well. Bajaj Finserv hopes to entice small potential owners to invest in the company's future through the stock split.
The primary business of Bajaj Finserv includes loans, asset management, wealth management, and insurance. To expand the group's interest in financial services, the firm was established in 2007 due to its demerger from Bajaj Auto Limited. The Bajaj Group's operations that provide financial services are housed under Bajaj Finserv.
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