Investing.com — The beverage company Varun Beverages (NS:VARB) will consider a stock split at its board meeting scheduled next month, while approving the financial results for the quarter ended March 31, 2023.
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The Board of Directors of the PepsiCo (NASDAQ:PEP) franchisee will conduct a meeting on May 2, 2023, to consider and approve the March quarterly earnings as well as a stock split.
The company has proposed a sub-division or split of existing equity shares from one share having a face value of Rs 10 each fully paid up, in a manner that may be determined by its Board of Directors as approved by its shareholders.
Splitting a stock typically increases the stock’s liquidity in the capital market and makes it more affordable for small investors. Doing so increases the number of shares in the market while keeping the stock’s market capitalization unchanged.
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Varun Beverages is the second largest bottling company of PepsiCo’s beverages in the world outside the United States. It is a large-cap stock having a market capitalization of Rs 92,857 crore.
Varun Beverages is a multibagger stock that has rallied over 110% in the past one year.
