Bonus shares 2023: Small-cap company Axita Cotton Ltd has declared bonus shares for its eligible shareholders. The company’s board of directors considered and approved a proposal for bonus shares in its meeting held on Thursday. The company’s board has approved bonuses in a ratio of 1:3, which means that one bonus share will be rewarded to its eligible shareholders for every three shares held on the bonus share record date, which will be announced later.
Axita Cotton bonus shares 2023
Informing Indian stock market exchanges about issue of bonus shares, Axita Cotton said, “With reference to the subject matter and in accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and other applicable SEBI Regulations, we hereby inform that , the Board of Directors, at its meeting held today, ie Thursday, November 23,2023, inter alia: Recommended the issue of Bonus Equity Shares in the ratio of 1:3 (ie 1 (One) Bonus Equity Share of Rs. 1 / – each for every 3 (Three) fully paid Equity shares held as of record date) subject to Shareholder approval. The record date for calculating eligible shareholders entitled to receive Bonus Shares will be communicated later.”
Read also: TCS buyback: TCS share price in focus as stock trades ex-buy today. Details in five points
“The pre-bonus issue paid up equity share capital as on the date of this letter is Rs. 19,56,60,000/- consisting of 19,56,60,000 equity shares of Rs. 1/- each,” Axita Cotton said adding. , “The post-bonus issue paid up equity share capital will be Rs. 26,08,80,000/- consisting of 26,08,80,000 equity shares of Rs. 1/- each.”
Read also: Dividend stocks: PFC, Manappuram Finance, 15 others to trade ex-dividend today
Axita Cotton went on to add that ₹6,52,20,000/- will be utilized from Balance of Free Reserves (Retained Earnings) for implementation of this Bonus Issue.
“Within 2 months from the date of approval by Board of Directors,” said Axita Cotton talking about the estimated date by which such Bonus Shares would be credited/sent.
Disclaimer: The views and recommendations made above are those of individual analysts or trading companies, and not of Mint. We advise investors to check with certified experts before making any investment decision.
Milestone Warning!Livemint tops charts as the fastest growing news site in the world 🌏 Click here to know more
Catch all Business News, Market News, News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More or less
Updated: 24 Nov 2023, 10:53 IST