Star Housing Finance board fixes record date for 1:2 bonus and 1:1 share split

8 Dec 2022 , 09:19 AM

Star Housing Finance Limited received shareholder approval for a bonus issue on December 6, 2022.

The proposal to split the company’s shares was also approved by the shareholders. The company’s board of directors has set December 16, 2022, as the record date for the bonus issue and share split.

The company’s members approved a bonus issue in the ratio of 1:1, i.e. one new bonus equity share for every one existing fully paid-up equity share, as well as the division of the company’s one equity share of Rs 10 each into two equity shares of Rs 5 each.

“This action is consistent with our philosophy of creating long-term value for our stakeholders. We appreciate our shareholders’ faith in the company and the management team. As the first milestone, the Star HFL team is looking forward to continuing its growth journey to become a Systemically Important HFC,” commented Ashish Jain, MD of Star HFL.

Through balance-sheet growth, the company hopes to generate long-term ROTA for its shareholders. The corporate action of split and bonus is one of a series of initiatives aimed at creating value for its shareholders.

At around 9.23 AM, Star Housing Finance was trading at Rs219.90, up by 1.52% against previous close of Rs216.60 on NSE. The counter hit intraday high and low of Rs220.70 and Rs217.45 respectively.

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