Sakuma Exports board approves stock split

The board of directors of Sakuma Exports on Friday considered and approved the sub-division of equity shares from the existing face value of ₹10 an equity share, to ₹1. The board has, subject to receipt of shareholders’ approval, also approved raising of funds by issue of equity shares, as may be permitted, by way of a qualified institutional placement (QIP) / foreign portfolio investment (FPI) or any other placement for an aggregate amount not exceeding ₹800 crore. Shares of Sakuma gained 8.2 per cent at ₹218.75 on the NSE.