AMC stock sets record date for 1:1 bonus shares and 1:2 stock split: Do you own?

  • With a market valuation of 16,200.15 Cr, 360 One Wam Ltd (formerly IIFL Wealth Management Limited) is a mid-size company that provides financial services.

Vipul Das
First Published16 Feb 2023, 06:23 PM IST
The shares of 360 One Wam closed today on the NSE at  <span class='webrupee'>₹</span>1,823 apiece, down by 0.87% from the previous close of  <span class='webrupee'>₹</span>1,839.00.
The shares of 360 One Wam closed today on the NSE at ₹1,823 apiece, down by 0.87% from the previous close of ₹1,839.00.

With a market valuation of 16,200.15 Cr, 360 One Wam Ltd (formerly IIFL Wealth Management Limited) is a mid-size company that provides financial services. Providing specialised solutions in the areas of wealth and asset management, 360 ONE is the top provider of financial services. Two corporate actions that the firm has separately announced are a 1:1 bonus share and a 1:2 stock split, for which the company's board of directors has set the record.

360 One Wam said in a stock exchange filing that, the Board has approved “a. sub-division of each existing equity share of face value of Rs. 2/- (Rupees two only), into 2 (two) equity shares of face value of Re. 1/- (Rupee one only) each fully paid up and consequential alteration(s) to the Memorandum of Association and Articles of Association of the Company (“SubDivision”); and b. issue of 1 (one) bonus equity share of the Company of face value Re. 1/- (Rupee one only) each, for every 1 (one) fully paid up equity share of face value Re. 1/- (Rupee one only) each (i.e. as adjusted for sub-division of the equity shares of the Company) (“Bonus Issue”).”

The Board of Directors of 360 One Wam further said that “the Company has fixed Thursday, March 2, 2023, as the record date (“Record Date”) for the purpose of ascertaining the eligibility of shareholders entitled for receipt of equity shares upon Sub-Division and Bonus Issue.”

Consolidated Profit After Tax (PAT) for Q3FY23 was 180 Crs, up 16% YoY and 4% QoQ, and for the nine months ended, it was 513 Crs, up 24% YoY. These figures were released by 360 ONE WAM Ltd. Operating Profit Before Tax (PBT) for the quarter was 229 Cr, up 47% YoY and 13% QoQ, and for the nine months ended, it was 639 Cr, up 50% YoY. At 410 Cr and 1,184 Cr for the nine months that ended, respectively, total revenues were slightly higher QoQ and up 9% YoY. In terms of revenue from operations, it was 415 Cr, up 10% YoY and 9% QoQ, and 1,172 Cr for the nine months that ended, up 20% YoY.

The shares of 360 One Wam closed today on the NSE at 1,823 apiece, down by 0.87% from the previous close of 1,839.00. The stock touched a 52-week-high of 1,960.00 on (24-Jan-2023) and a 52-week-low of 1,235.80 on (20-Jun-2022).

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News in Numbers

Numbers that help you understand news better
₹295 Cr

$23 B

$65 M

3.36%

$65.47 B

$2.5 M

₹80 Cr

1.4%

₹773 Cr

₹2,705 Cr

₹1 Cr

₹14,370 Cr

₹5.74 T

First Published:16 Feb 2023, 06:23 PM IST
HomeMarketsStock MarketsAMC stock sets record date for 1:1 bonus shares and 1:2 stock split: Do you own?

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