Bajaj Finance To Consider Stock Split, Bonus Issue On April 29
The last bonus issue from India's largest non-banking financial company was in September 2016 in the 1:1 ratio.
Bajaj Finance Ltd.'s board of directors will consider proposals for a stock split and bonus issue of shares during a meeting on April 29.
The fourth quarter and fiscal 2025 financial results will be on the agenda, besides a dividend, according to an exchange filing on Wednesday.
The current face value of each share is Rs 2 each.
The last bonus issue from India's largest non-banking financial company was in September 2016 in the 1:1 ratio. The company paid a final dividend of Rs 36 per share in June 2024.
The Rajeev Jain-led company has a market valuation of nearly Rs 5.8 lakh crore. Last month, Jain was promoted from managing director to vice chairperson for a period of three years.
Shares of Bajaj Finance closed 0.64% higher at Rs 9,326.25 apiece on the BSE ahead of the announcement, compared to a 0.65% advance in the benchmark Sensex. The stock has risen 28% in the last 12 months and 34% on a year-to-date basis.
Out of the 38 analysts tracking the company, 28 have a 'buy' rating on the stock, five recommend 'hold' and as many suggest 'sell', according to Bloomberg data. The average of 12-month analysts' price targets implies a potential downside of 2.7%.
