IIFL Wealth gains as board to mull share split, bonus issue

IIFL Wealth Management advanced 2.72% to Rs 1,808.15 after the company said that its board will consider a proposal of split of shares and issue of bonus shares in its meeting to be held on 19 January 2022.

The company said that the board will consider sub-division of equity shares of the company of face value of Rs 2 each and issue of fully paid-up bonus equity share(s) to the shareholders of the company in the ratio as the board may deem fit.

The proposals are subject to the approval of the shareholders of the company and such other approvals as may be required in this regards.

The board will also mull standalone and consolidated unaudited financial results for the quarter and nine months ended 31 December 2022.

Further, the board will also consider declaration of fourth interim dividend, if any, for the financial year 2022-23, to the equity shareholders of the company.

360 ONE WAM (formerly known as IIFL Wealth Management) is a private wealth management firm in India. It serves the needs of high net worth and ultra-high net worth individuals, affluent families, family offices and institutional clients through a comprehensive range of tailored wealth management solutions.

The company's consolidated net profit jumped 22.4% to Rs 174.37 crore on a 4% rise in operating income to Rs 505.26 crore in Q2 FY23 over Q2 FY22.

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