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NBFC stock jumps after it announces 1:10 stock split

Leading finance firm’s Board approved a 1:10 equity share split, reducing the face value to ₹1 per share. The capital clause amendment aims to boost liquidity and attract retail investors.
NBFC stock surges following announcement of 1:10 stock split, boosting investor confidence and liquidity.
NBFC stock surges following announcement of 1:10 stock split, boosting investor confidence and liquidity.

Introduction:

Leading finance firm’s Board approved a 1:10 equity share split, reducing the face value from ₹10 to ₹1 per share. This move aims to enhance liquidity and attract retail investors, with a proposed capital clause amendment.

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Also Read: PSU stock jumps 6% after receiving order to supply missiles for the Indian Navy

Share price movement of Optimus Finance:

On January 17, 2025, Optimus Finance Ltd opened at ₹236.25, up 2.02% from its previous close of ₹231.60. The stock reached a high of ₹236.25 (2.02%) and a low of ₹225.90. By 10:27 AM, it traded at ₹225.90, a 2.46% decrease, with a market cap of ₹168.80 crore.

Optimus Finance Ltd Announces Equity Share Split:

On January 16, 2025, Optimus Finance Ltd’s Board approved a 1:10 equity share split, reducing the face value from ₹10 to ₹1 per share. This decision aims to enhance share liquidity and attract retail investors.

Additionally, the Board proposed amending the company’s Memorandum of Association to reflect the altered capital clause. This amendment will increase the authorized share capital to ₹7.5 crore, divided into 7.5 crore equity shares of ₹1 each.

The company will seek shareholder approval via a postal ballot, with remote e-voting facilitated by Central Depository Services (India) Limited (CDSL). The cut-off date for voting is January 17, 2025.

Ace investor holding in Optimus Finance:

Nirbhay Fancy Vassa

Nirbhay Fancy Vassa holds a 3.49% stake in Optimus Finance Ltd, with 260,534 shares valued at ₹5.9 crore. This significant holding reflects Vassa’s confidence in the company’s growth and potential in the finance sector.

Mukesh M. Shah

Mukesh M. Shah holds a 1.28% stake in Optimus Finance Ltd, owning 96,000 shares valued at ₹2.2 crore. This investment indicates Shah’s involvement and belief in the company’s future performance and market prospects.

Stock performance of Optimus Finance for Period of 1 week, 6 months and 1 year:

Optimus Finance Ltd has experienced a slight decline of 0.96% over the past week. However, the stock has shown impressive growth of 124% over the last six months and a remarkable 152% increase over the past year.

Also Read: Steel stock hits 20% upper circuit after its net profits increase by 68.32% YoY

Shareholding pattern of Optimus Finance:

All values in %Sep 2024Jun 2024Mar 2024
Promoter53.90%54%54%
FII0.00%0.00%0%
DII0%0%0%
Public46.10%46.10%46.10%
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About Optimus Finance:

Optimus Finance Ltd (BSE Symbol: 531254) is a Non-Deposit Taking Non-Banking Finance Company, engaged in investment and trading of marketable securities, mutual funds, and other financing activities, with subsidiaries involved in trading goods domestically and internationally.

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.

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