Bonus Issue Update: Here is an update from a company set to issue 1:1 free shares
Bonus Issue Update: Here is an update from a company set to issue 1:1 free shares
Technology firm Aurionpro Solutions Ltd on Saturday (June 15) said its Executive Committee has fixed Thursday, June 27, 2024, as the record date for issuing bonus equity shares.
"...we wish to inform the Exchange that the Executive Committee (“the Committee”) of the Board of Directors (“the Board”) of the Company at its Meeting held on Friday, 14th June 2024 has fixed the Record Date as Thursday, 27th June 2024," according to a stock exchange filing.
The company plans to issue 1 bonus equity share of ₹10 each for every existing equity share of ₹10 each held by shareholders as of the record date.
"The said record date is fixed for the purpose of issuance of bonus equity shares of the company in the proportion of 1 (One) equity shares of ₹10/each for every 1 (one) existing equity share of ₹10/- each to the equity shareholders whose names appear in the register of members/beneficial owners of the company/depositories as on the record date," the company said.
Last month, Aurionpro Solutions announced a bonus issue at a 1:1 ratio. This is the first-ever bonus share issue undertaken by the company, according to data available on the exchanges.
For the March quarter, Aurionpro Solutions reported a 29% revenue growth to ₹247 crore, while Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) increased by 30% year-on-year to ₹52 crore. Net profit also increased by 48% from the year-ago period to ₹40 crore.
Ashish Rai, Vice Chairman and CEO of Aurionpro Solutions expects to continue the growth momentum in financial year 2025 as well. He has guided revenue growth to range between 30% and 35%, while EBITDA and profit growth are likely to remain at similar levels.
Shares of Aurionpro Solutions Ltd ended at ₹2,700.00, up by ₹30.60, or 1.15% on the BSE.