New Delhi: The board of Britannia Industries on Thursday approved a share split in 1:2 ratio to make the stock more affordable for small retail investors and increase liquidity. The Kolkata-based company will split shares with a face value of 2 into two equity shares of Re 1 each.

The company said in a regulatory filing that the division would be subject to the approval of the members and authorities as applicable. “There had been a significant rise in the market price of the equity shares of the company over the last one year," it said. “In order to improve the liquidity of the company’s equity shares in stock markets and to make them more affordable for small retail investors, it is proposed to sub-divide equity shares of face value of 2 each into two equity shares of the face value of Re 1 each," it added.

Britannia Industries stock closed 0.43% up on the BSE on Thursday.