Muthoot Finance’s board has put in abeyance the proposal for a stock split in view of the current economic situation caused by the coronavirus pandemic. The board discussed in depth the pros and cons of the stock split proposal.
Though the share price movement over the last few months and financial indicators were found to be ideal for a stock split proposal at the current scenario, the board unanimously decided to defer the proposal to sub-divide the equity shares to the company to a future date.
Muthoot Finance is a non-banking financial company (NBFC), which is engaged in providing loan (financing) against collateral of gold jewelry. The company offers gold loans, foreign inward money transfer services, foreign exchange services, insurance broking etc.
