Arihant Capital Markets board approves 5-For-1 stock split

The board of Arihant Capital Markets today, 3 March 2022, approved a 5-for-1 stock split.

The company's board proposed to split equity shares of face value of Rs 5 each into equity shares of face value of Re 1 each (5:1) (i.e. sub-division of existing one equity share of face value of Rs 5 each fully paid up into five equity shares of Re 1 each fully paid).

The split is being done to encourage wider participation of retail investors by making the equity shares more affordable for them and enhancing the liquidity of equity shares of the company in stock markets.

The company expects the stock split process to be completed within two months, from the date of notice of the extra-ordinary general meeting i.e. 3 May 2022.

The board of Arihant Capital has also approved an interim dividend of Rs 0.75 per equity share of face value of Rs 5 each to the shareholders of the company for the financial year 2021-22 and fixed 15 March 2022 as the "record date" for the payment of interim dividend. The dividend will be paid to the eligible shareholders/ members on or after 15 March 2022.

Arihant Capital Markets is a stock broking service provider in India.

The company's consolidated net profit rose 46.53% to Rs 13.10 crore on 68.17% increase in net sales to Rs 48.23 crore in Q3 December 2021 over Q3 December 2020.

The scrip rose 0.88% to currently trade at Rs 367.50 on the BSE.

Powered by Capital Market - Live News