Sapphire Foods shares surge on announcement of equity share split

Sapphire Foods’ plan to subdivide its equity shares has driven share prices higher in early trade on June 20.

At 9:23 am, Sapphire Foods India was trading at Rs 1,655.00, up by Rs 97.50 or 6.26 percent on the BSE.

Advertisement

On June 19, the board of Sapphire Foods India approved a plan to alter its share capital by splitting existing equity shares from one share with a face value of Rs 10 each into five shares with a face value of Rs 2 each.

This proposal is subject to approval by shareholders at the upcoming 15th Annual General Meeting (AGM) of the company.

As of 10:45 am, the shares were trading 2.54% higher at ₹1,598.85 on the NSE.