The board of Bajaj Finance Ltd. approved plans to carry out asplit, increase sharecapital of the company and issue bonus shares.
The proposed stock split would involve splitting equityshares with face value of 10 Indian rupees each into equity shares of 2 rupeeseach.
The company also plans to issue bonus equity shares andraising the share capital of the company to 1.5 billion rupees from 750 millionrupees.
The proposals are still subject to the approval ofshareholders.
As of July 25, US$1was equivalent to 67.44 Indian rupees.