Britannia Industries to Split Stock, Issue Bonus Debentures
Today, it was disclosed that Britannia Industries Ltd might opt for stock split and issue bonus debentures to shareholders. The company itself revealed and confirmed this news.
The Chairman of Britannia Industries Ltd, Nusli Wadia has said that the issue of stock split would be decided at the next board meeting, while he was speaking at the company’s AGM here.
He also went on saying that the company would incur a total cost of Rs 1,000 crore for issuance of bonus debentures and to pay dividend to the shareholders.
He also confirmed that the company’s bonus debentures would be issued at Rs 60 each and be non-convertible.
Within upcoming six months, it is expected that the company will launch new products and expand its business outside India. Chairperson said that it is open to acquisitions.
Recently, the FMCG major, Britannia Industries also unveiled a new logo to commemorate its centenary year.