Dolly Khanna portfolio: Multibagger stock announces share split. Details here
Premium- Ajanta Soya said the stock split will enhance the liquidity of equity shares and encourage the participation of small investors by making it more affordable.
Ajanta Soya Ltd on Wednesday said its board has approved stock split in the ratio of 5:1, which means, for every one share an investor holds, he or she will have five shares after the split takes space.
The company said the stock split will enhance the liquidity of equity shares and encourage the participation of small investors by making it more affordable.
The record date for the purpose of split will be intimated in due course. The expected time of completion is approximately 2 months from the date of approval by the Board.
A stock split is generally done to infuse liquidity and to make shares affordable for various investors who could not buy the shares of that company before due to high prices.
Although the number of shares outstanding increases by a specific multiple, the total rupee value of all shares outstanding remains the same, because a split does not fundamentally change the company's value.
Ajanta Soya has given multibagger returns to investors over the last one year period, rising over 200%. However, on a year-to-date basis, the stock is up only 9%.
On Wednesday, Ajanta Soya shares closed marginally lower at ₹246.70 apiece on BSE.
As per the shareholding pattern for recently ended March 2022 quarter, top investor Dolly Khanna holds 2,34,666 shares or 1.46% stake in the company. She raised her stake during the January-March period.
MINT PREMIUM See All
At the end of December quarter, the Chennai-based investor was holding 1,78,500 shares or 1.11% stake in the company.
Ajanta Soya is a leading manufacturer and marketer of vanaspati, cooking oils and bakery applications since two decades. The company has focused on continuous expansion, across business verticals to consolidate its position.
The company has a portfolio of brands including Druv, Anchal and Parv and enjoys reputed market share. It also offers its quality products as food ingredients to serve food manufacturers and food service industry.