1st-ever Bonus Issue: Multibagger stock to give FREE Shares; stock up 333% in 1 year
1st-ever bonus issue: multibagger stock to give free shares; stock up 333% in 1 year
1st-ever Bonus Issue: Shares of Nidhi Granites, a construction materials company, is set to trade ex-bonus on Thursday, May 2, 2024. The nanocap company, which has a market cap of Rs 118 crore, had earlier announced that it will distribute one additional share to its shareholders for each one stock held. This is the first-ever bonus issue by the company.
“Considered and Recommended to the Shareholders of the Company issue of bonus equity shares in the proportion of 1:1 i.e. 1 (One) new fully paid-up bonus equity share of Rs. 10/- (Rupees Ten only) each for every 1 (One) existing fully paid-up equity share of Rs. 10/- (Rupees Ten only) each held as on the record date through Postal Ballot in compliance with the applicable laws,” announced the company in a stock exchange filing dated March 15, 2024.
A bonus issue, is an issue of shares wherein a listed company issues shares to its existing shareholders without any consideration based on the number of shares already held by them as on a record date for the said issue, as per the SEBI website.
Nidhi Granites Bonus Issue Details
- Total number of securities proposed to be issued – 40,00,000 equity shares of face value Rs 10 each
- Total amount for which the securities will be issued – Rs 4,00,00,000 (or Rs 4 crore)
- Bonus shares will be issued out of free reserves created out of profits and securities premium account of the company available as at March 31, 2023.
- As on March 31, 2023, the company has a balance of Rs 4,02,11,000 in free reserves and securities premium account.
- Bonus Shares Credit Date – Within 2 months from the date of Board approval i.e. on or before May 15, 2024.
- Bonus Ratio – 1 new fully paid-up bonus equity share of Rs 10 each for every 1 existing fully paid-up equity share of Rs. 10 each
- Pre-bonus paid up share capital – Rs 4,00,00,000 divided into 40,00,000 equity shares of Rs 10 each
- Post bonus paid up share capital – Rs 8,00,00,000 divided into 80,00,000 equity shares of Rs. 10 each
Nidhi Granites Bonus Issue Record Date
“With reference to recommendation of Board of Directors in their meeting held on 15th March, 2024 for issue of Bonus Equity Shares in the ratio of 1:1 i.e. one new bonus Equity Share of Rs. 10/- each for every one existing Equity Share of Rs. 10/- each held by the shareholders of the Company as on the Record Date, we would like to inform you that Board members of the Company has fixed Thursday, 2nd May, 2024 as the ‘Record Date’ for ascertaining the eligibility of shareholders entitled for issuance of Bonus Equity Shares of the Company,” said the company in a regulatory filing dated April 19, 2024.
Nidhi Granites Share Price Today
Shares of Nidhi Granites were locked in at 5 per cent upper circuit on Tuesday at Rs 295.15 apiece on BSE. With this, the stock has been hitting upper circuits consistently for the past nine sessions. The nanocap stock has rallied 333 per cent in the past one year and a whopping 770 per cent in the past three years. The stock is currently trading at its all-time high.
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