AGI Infra Approves 1:5 Stock Split — Check Details
The record date for the stock split will be decided after a nod from the shareholders, said AGI Infra.
AGI Infra Ltd. announced on Monday a split of each fully paid-up equity share having a face value of Rs 5 into five equity shares with a face value of Rs 1 each, according to an exchange filing.
The sub-division will be subject to the approval of the shareholders through a postal ballot. The record date for the stock split will be decided after a nod from the shareholders, the real estate firm said.
The decision was taken at a meeting of the board of directors. This is the second time that the company has announced a stock split. AGI Infra, in December 2024, had announced a 1:2 stock split.
AGI Infra aims to enhance the liquidity of the company's equity shares and encourage participation of retail investors by making the equity shares more affordable.
The business update was shared after market hours. The stock settled 0.23% higher at Rs 1,078.40 apiece on the NSE, compared to a 0.64% advance in the benchmark Nifty 50.
AGI Infra's shares have risen 25.83% in the last 12 months and fallen 39.42% year-to-date.
All three analysts tracking the company maintain a 'buy' rating, according to Bloomberg data. The average of 12-month consensus price target of Rs 1,448 implies a potential upside of 34.3%.
