1 min read.Updated: 23 Aug 2021, 10:47 AM ISTLivemint
Affle India board will meet on August 26, 2021
A meeting of Board of Directors of Affle India is scheduled to be held on August 26, 2021, to consider and approve split of equity shares of the company, subject to approval of the shareholders, the company said in a communication to exchanges today. Affle India shares were down nearly 1% today at ₹3,975.
A stock split helps boost the stock's liquidity, particularly among retail investors. In a stock split, the company divides the existing shares of its stock into new shares though the the total value of the shares remains the same.
Affle is a technology company that delivers consumer engagements, acquisitions and transactions through relevant mobile advertising. Its platform aims to enhance returns on marketing investment through contextual mobile ads. While Affle’s consumer platform is used by online & offline companies for measurable mobile advertising, its enterprise platform helps offline companies to go online through platform-based app development, enablement of O2O commerce and through its customer data platform.
Affle investors include Microsoft and D2C (an NTT DoCoMo, Dentsu & NTT Advertising JV), amongst others.
Affle India shares had got listed in 2019 and shares have run up sharply from issue price of ₹745. However, shares are down sharply from 52-week high of ₹6,287 hit in March earlier this year.
In the June quarter, Affle's consolidated revenue from operations jumped to ₹152.5 crore, an increase in revenue by 69.8% y-o-y. Net profit increased by 57.2% y-o-y to Rs. 29.5 crores from Rs. 18.8 crores in Q1 last year. PAT margin stood at 18.8% for the quarter.
Earlier this month, Omnicom Media Group Indonesia (OMG Indonesia) had announced its partnership with Affle’s mediasmart platform to bring its programmatic and Connected TV (CTV) advertising offering to its clients in Indonesia.
ICICI Securities has a target price of ₹5,635 on Affle India's shares, saying that the company will be a key beneficiary of a shift of advertising budget to digital medium and increasing smart phone penetration and rising online shoppers.