This Company Announces 1:1 Bonus Issue; Stock Zooms 32% In Just 1 Year - Check Other Details

01/07/2024

this company announces 1:1 bonus issue; stock zooms 32% in just 1 year - check other details

Sprayking Limited, a manufacturer of brass components and parts, has announced the issuance of bonus shares to its equity shareholders in a 1:1 ratio. This significant decision reflects the company’s commitment to rewarding its investors and highlights the substantial growth and success achieved over the years.

As per the company's filing on the NSE, In pursuance of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform all our stakeholders that the Company has announced Bonus shares in the ratio of 1:1 (100% Bonus)."

This announcement comes as Sprayking Limited recently inaugurated a new state-of-the-art manufacturing facility. Equipped with advanced machinery and technology, this facility significantly enhances the company’s production capabilities and efficiency. The new factory represents a strategic investment aimed at meeting increasing demand and ensuring the highest standards of quality in brass rod production.

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Commenting on this development, Mr. Hitesh Dudhagara, Managing Director of Sprayking said: “We are thrilled to announce the 1:1 bonus issue as a token of our appreciation for the unwavering support and trust of our shareholders. This bonus issue not only demonstrates our strong financial position but also our confidence in the continued growth and future prospects of Sprayking Limited. Our Journey from incorporation in 2005 to becoming a significant player on the BSE Mainboard in 2023."

Formerly known as Sprayking Agro Equipment Limited, the company has rebranded itself as Sprayking Limited.

Established in 2005, Sprayking Limited specializes in manufacturing brass components, including fittings, forging equipment, transformer parts, and customized brass components. The company is also a renowned manufacturer of copper forging products, offering a diverse range of functional and decorative items. Sprayking's commitment to quality craftsmanship and exceptional design has earned it an unparalleled clientele across the USA, Europe, Australia, Canada, South Africa, UAE, and India.

On Monday, the shares of Sprayking Limited closed at Rs 40, 2.35 per cent up from the previous trading day. According to the BSE analytics, the shares have returns of 32.41 per cent in the last 1 year. The 52 week high and low of the share is Rs 60.04 and Rs 29.60 respectively.

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