Nestle India said this is being done to enhance the liquidity of company s equity shares and to encourage participation of retail investors by making equity shares of the company more affordable. The split will come into effect within two months from the date of approval of shareholders.
The FMCG major announced a second interim dividend of Rs 140 for the financial year while announcing sub-division or split of shares of face value of Rs 10 each fully paid-up into 10 equity shares of face value of Re 1.
FMCG major Nestle India Ltd on Thursday reported an increase of 36.86 per cent in its net profit at Rs 698.34 crore for the second quarter ended June 30, 2023.