“…we wish to inform that the Board of Directors has recommended the issuance of Bonus Shares in a ratio of 1:4, i.e. one new bonus share of ₹10/- each fully paid up for four existing shares of ₹10/- each fully paid subject to shareholder approval,” according to a stock exchange filing.
Also read: Suzlon Energy subsidiary fined by Tamil Nadu GST department
The company plans to issue a total of 20,50,000 ordinary shares under this bonus issue, which will be funded from its free reserves and share premium account. The required reserves stand at Rs 2.05 crore, as per the audited financial statements as of March 31, 2024.
If approved by shareholders, the bonus shares are expected to be credited to the dematerialized accounts of eligible shareholders by November 2, 2024. This measure is aimed at strengthening the company’s equity base and rewarding its shareholders.
Also read: NMDC August update: India’s largest iron ore miner reports decline in production, sales
In addition, the Board of Directors approved an increase in the Company’s authorized share capital, subject to shareholder approval, effective ₹9 crores divided into 90 lakh ordinary shares of ₹10 each at ₹11 crores divided into 1.10 crore ordinary shares of ₹10 each ranking pari passu in all respects with the existing shares of the company.
Shares of Aurangabad Distillery Ltd ended at ₹385.24, up ₹3.75, or 0.98% on the NSE.
cnbctv18-forexlive
