Affle India locked in upper circuit as broad approves stock split
Affle India board approved stock split (sub-division of equity shares) in the ratio of 1:5, to facilitate larger shareholder base and aid liquidity.
Shares of Affle India were locked in the upper circuit of 5% at Rs 4,180 apiece on Thursday, after the board approved stock split (sub-division of equity shares) in the ratio of 1:5, to facilitate larger shareholder base and aid liquidity. The stock split is subject to shareholders and other required approvals.
In an exchange filing the company said that 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, the record date for the same shall be October 8, 2021, Affle India added.
Affle India is a global technology company with a proprietary consumer intelligence platform that delivers consumer acquisitions, engagements and transactions through relevant mobile advertising.
In Q1 of the current fiscal, net profit rose 90% to Rs 35.73 crore against Rs 18.77 crore in the corresponding quarter of the previous fiscal. Whereas its net sales rose 69.85% to Rs 152.47 crore in the June quarter against Rs 89.77 crore profit in the corresponding quarter of the previous fiscal.
Affle India made a 52-week high of Rs 6,287.00 on March 05, 2021, and a 52-week low of Rs 2,334.25 on August 24, 2020. As per today’s price, it is trading 33.59% below its 52-week high and 78.86% above its 52-week low.