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Business News/ Markets / Stock Markets/ AMC stock sets record date for 1:1 bonus shares and 1:2 stock split: Do you own?

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

2 min read 16 Feb 2023, 06:23 PM IST Join us

Vipul Das

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.

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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ABOUT THE AUTHOR

Vipul Das

Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).