On Thursday morning, the share price of Sapphire Foods India Limited increased by almost 7% due to news of a stock split. Sapphire Foods India Limited operates KFC and Pizza Hut outlets around the nation. It is also the YUM Franchisee Operator in Sri Lanka, the Maldives and India.
Sapphire Foods India Ltd’s share price increased by more than 7% to ₹1672.75 on the BSE after opening at ₹1619.95, 4% higher than the previous close. Sapphire Foods’ stock price has been climbing, up more than 15% in the previous month. On Wednesday, Sapphire Foods India’s share price increased by ₹43.50, closing at ₹1557.50 per share, up 2.57%.
In a statement released on the exchanges, Sapphire Foods India Limited stated that, among other things, the company discussed and approved the split of its shares into 5 (five) equity shares with a face value of Rs. 2/- (Rupees Two) each, fully paid up, subject to shareholder approval at the company’s upcoming 15th Annual General Meeting. The company has one equity share, a value of Rs. 10/- (Rupees Ten) each, that will be fully paid up.
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