Intimation of In-Principle Approval for Issue and Allotment of Proposed Bonus equity shares to the Shareholders of the Company.
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Dev Labtech Venture Ltd has received in-principle approval from BSE for issuing up to 2,37,26,278 bonus equity shares. The bonus will be issued in a ratio of 1:1, meaning shareholders will receive 1 new equity share for every 1 existing share held. The face value of each bonus share is Rs. 5. This is a standard bonus issue that will double the number of shares held by each shareholder without any cash outlay required from them. The company is listed on BSE SME with scrip code 543848.
Shareholders will see their shareholding double in quantity while the percentage ownership remains unchanged. The stock price is expected to adjust downward proportionally after the bonus allotment, but overall this is a positive signal indicating management confidence in the company's prospects.