DBT Bureau
Bengaluru, 27 February 2025
Mid-tier IT services company, Coforge has announced that its board will hold a meeting on March 4, 2025, to evaluate a proposal for stock split.
If the proposal sails through, this will be the first such corporate action by the IT services company.
“The meeting of the Board of Directors of the company is scheduled to be held on Tuesday, March 04, 2025, inter-alia to consider the proposal of alteration in the share capital of the company by sub-division/ split of the existing Equity Shares of the face value ₹10/- each, fully paid-up, in such a manner as may be determined by the Board of Directors subject to approval of the shareholders of the company and any approvals, as may be required under applicable law,” Coforge said in an exchange filing.
The final structure of the split will be determined by the Board, though it will be subjected to shareholder and regulatory approvals. With this announcement, the company has closed its trading window for designated persons and their immediate relatives with immediate effect as per regulatory norms.
The share price of Coforge was trading 0.19% lower at Rs 7,619.30 at 10 AM in NSE on Thursday.
Usually, companies announce stock split to boost liquidity in the shares as they become affordable for retail investors. After the stock split, the price of each share is adjusted in the ratio of stock split, thus helping the companies to widen their shareholders’ base.
