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Star Housing Finance has received the shareholders’ consent for a bonus issue (1:1) and a proposal to split the company’s shares from ₹10 to ₹5. The board of directors has fixed December 16 as the record date for both events.
Shares of Star Housing closed 1.52 per cent higher at ₹216.60 on the BSE.
Ashish Jain, MD, Star HFL, said: “This action is consistent with our philosophy of creating sustainable and long-term value for our stakeholders.”
Kalpesh Dave, Head - Corporate Strategy, said, the company’s net worth has crossed ₹100 crore, thanks to three successful rounds of capital raise over the last 12 months. “The company looks to create sustainable ROTA for its shareholders through balance sheet growth. The corporate action of split and bonus is amongst the series of initiatives towards value creation for our shareholders,” he added.
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