Issue of Bonus, increase in Authorized capital, notice of AGM has been decided by the board of directors of the company.
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The board of Abate As Industries Ltd has approved a bonus issue of shares in the ratio of 1:1, meaning shareholders will receive one free equity share for every one share they hold. A total of approximately 7.88 crore bonus shares of Rs. 10 each will be issued, nearly doubling the paid-up share capital from Rs. 78.80 crore to Rs. 157.60 crore. The bonus will be funded out of the company's Securities Premium account (Rs. 90.61 crore available as on March 31, 2025) and reserves. The board also approved raising the authorized share capital from Rs. 95 crore to Rs. 158 crore to accommodate the new shares. The 34th Annual General Meeting has been scheduled for July 14, 2025, where shareholders will need to approve the bonus issue. Bonus shares are expected to be credited by August 16, 2025.
Eligible shareholders will get one additional free share for each share held, effectively doubling their share count. Since this doubles the share base, the share price typically adjusts downward proportionally on the ex-bonus date, so total investment value usually remains unchanged in the short term. The move signals management confidence in the company's reserves and a desire to improve share liquidity.