Money & Banking

Muthoot Finance board puts off stock split plan

Our Bureau Mumbai | Updated on July 18, 2020

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The Board of Directors of Muthoot Finance Ltd on Saturday decided to defer the proposal to sub-divide the equity shares of the company to a future date.

“The board discussed in depth the pros and cons of the stock split proposal. Though, the share price movement over the last few months and financial indicators were found to be ideal for a stock split proposal at the current scenario, the board unanimously decided to defer the proposal…,” the gold loan company said in a regulatory filing.

The decision to defer the proposal was taken considering the economic uncertainties that are currently prevailing due to Covid 19 outbreak and related slowdown in the economy, it added.

Since the beginning of the current calendar year, Muthoot Finance Ltd’s shares, which have a face value of ₹10, rose from ₹760.95 on January 1, 2020 to ₹1,202.80 on July 17, 2020.

Published on July 18, 2020

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