Increase in Authorized share capital of the company by altering capital clause of Memorandum of Association of the company.
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The Board of Directors of Abate As Industries Ltd, at its meeting on June 17, 2025, approved a bonus issue in the ratio of 1:1 — meaning one new equity share of Rs. 10 for every one existing share held. This will result in the issuance of 7,88,03,228 bonus equity shares, taking the post-bonus paid-up share capital to 15,76,06,456 shares (Rs. 157.6 crore). The bonus will be funded by capitalising Rs. 78.8 crore from the Securities Premium and Reserves & Surplus account, which had Rs. 90.6 crore in securities premium as per the March 31, 2025 audited balance sheet. The Board also approved increasing the authorised share capital from Rs. 95 crore to Rs. 158 crore by altering the capital clause of the Memorandum of Association. Bonus shares are expected to be credited by August 16, 2025, subject to shareholder approval at the 34th AGM scheduled for July 14, 2025.
Eligible shareholders will see their share count double once the bonus is credited, though the share price should adjust proportionally so total holding value is largely unchanged in the short term. The signal is generally viewed positively as it reflects management's confidence in reserves and improves share liquidity.