360 One Wam fixes record date for stock split, bonus issue

360 One Wam, formerly known as IIFL Wealth, has received shareholders’ approval for the proposed stock split and bonus issue. The company has fixed March 2 as the record date to determine the eligibility of shareholders in these regards.

In January, too, the company had announced a stock split in the proportion of 1:2. Stock split is usually done to increase the stock's liquidity in the market. On the ex-split date, investors holding the stock till the record date will receive the new shares in demat accounts and the stock price will be adjusted according to the split ratio.

Further, the company has also approved a bonus issue in the proportion of 1:1, which means for every equity share an investor holds, an additional share will be credited.


A company issues bonus shares for their shareholders in order to increase the liquidity of the stock as well as to decrease its price to make it affordable for investors.

Bonus shares are fully paid additional shares issued by a company to existing shareholders. For this purpose, shareholders do not have to incur any extra costs to get them. The number of bonus shares you receive depends on the number of shares of the firm you already hold.

360 One Wam reported a consolidated profit of Rs 180 crore for the third quarter, up 16% year-on-year and 4% quarter-on-quarter. Revenue from operations stood at Rs 415 crore, higher by 10% year-on-year and 9% quarter-on-quarter.

The company has also announced a fourth interim dividend for the financial year 2022-23 at Rs 17 per equity share.