Affle India on Thursday approved stock split (sub-division of equity shares) of the company’s 1 equity share of face value of Rs 10 each into 5 equity shares of face value of Rs 2 each to facilitate larger shareholder base and aid liquidity.
The stock split is subject to shareholders and other required approvals.
Regulator filing read as
“The board approved stock split of “One (1) equity share of face value of Rs10/- each into Five (5) equity shares of face value of Rs.2/- each.” Post the shareholders approval for the stock split, record date for the same shall be October 8, 2021.”
About Stock Split
A stock split helps boost the stock’s liquidity, particularly among retail investors.
In a stock split, the company divides the existing shares of its stock into new shares though the the total value of the shares remains the same.
About Company
Affle is a technology company that delivers consumer engagements, acquisitions and transactions through relevant mobile advertising. Its platform aims to enhance returns on marketing investment through contextual mobile ads.
While Affle’s consumer platform is used by online & offline companies for measurable mobile advertising, its enterprise platform helps offline companies to go online through platform-based app development, enablement of O2O commerce and through its customer data platform.
Company’s Financial
For the quarter ended June, Affle’s consolidated revenue from operations jumped to ₹152.5 crore, an increase in revenue by 69.8% in the year-on-year (YoY) basis. Net profit increased by 57.2% y-o-y to Rs. 29.5 crores from Rs. 18.8 crores in Q1 last year.
Impact on Stock
The share touched a 52-week high of Rs 6,287.00 and a 52-week low of Rs 2,334.25 on 05 March, 2021 and 24 August, 2020, respectively.
Affle India share trades higher than 5 day and 20 day moving averages but lower than 50 day, 100 day and 200 day moving averages.
In one year, the share has risen 42.03% and risen 10.49% since the beginning of this year.
Total 0.11 lakh shares of the firm changed hands amounting to turnover of Rs 4.75 crore on BSE.
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