This mid cap stock to consider dividend, bonus shares and stock split next week

Market


With a market valuation of 15,662.29 Cr, 360 ONE WAM Ltd, formerly known as IIFL Wealth Management Ltd. is a mid-size company that engages in the financial services industry. One of the top wealth management firms in India is 360 ONE WAM, which is a subsidiary of the IIFL Group. The company has declared today that January 19, 2023 is scheduled for the Board meeting to consider and approve, dividend, stock split, bonus shares and financial results for the quarter and nine months ended December 31, 2022.

The company has said today in a stock exchange filing that “This is further to our intimation dated January 5, 2023, intimating the date of the Board meeting i.e. January 19, 2023, scheduled to inter alia consider and approve standalone and consolidated unaudited financial results for the quarter and nine months ended December 31, 2022. We now wish to inform that pursuant to Regulation 29 and 42 of the SEBI Listing Regulations, the Board shall also consider the following proposals at the said Board meeting: a) declaration of fourth interim dividend, if any, for the financial year 2022-23, to the equity shareholders of the Company; b) sub-division of equity shares of the Company of face value of Rs. 2/- each, subject to the approval of the shareholders of the Company and such other approvals as may be required in this regard; and c) issue of fully paid-up bonus equity share(s) to the shareholders of the Company in the ratio as the Board may deem fit, subject to the approval of the shareholders of the Company and such other approvals as may be required in this regard. Further, we wish to inform that pursuant to Regulation 42 of SEBI Listing Regulations, Monday, January 30, 2023, shall be fixed as the record date for ascertaining the eligibility of shareholders of the Company, to receive the aforesaid interim dividend, if declared by the Board of Directors at its aforesaid meeting.”

The Board has recently informed stock exchanges by saying that “we further wish to intimate that the Registrar of Companies, Mumbai, vide the ‘Certificate of Incorporation pursuant to change of name’ dated January 5, 2023, has approved the change of name of the Company from ‘IIFL Wealth Management Limited’ to ‘360 ONE WAM Limited’ w.e.f. January 5, 2023. A copy of the said Certificate is enclosed herewith for your reference. Due changes reflecting the aforesaid change of name of the Company in all the records and documents of the Company will be appropriately carried out in due course.”

On the NSE, the shares of 360 ONE WAM closed today at 1,757 apiece level, down by 1.75% from the previous close of 1,788.35. The stock recorded a total volume of 32,598 shares compared to the 20-Day average volume of 33,352 shares. The stock had touched a 52-week-high of 1,945.00 on (20-Sep-2022) and a 52-week-low of 1,235.80 on (20-Jun-2022).


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