GRM Overseas Limited has informed the Exchange about Intimation of Receipt of in-principle approval for bonus issue of 13,81,40,000 Equity shares having face value of Rs. 2/- each
GRMOVER · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
GRM Overseas Limited has received in-principle approval from the exchange for issuing bonus equity shares. The proposed bonus issue comprises 13,81,40,000 equity shares with a face value of Rs. 2 each. The total face value of the bonus shares amounts to approximately Rs. 2.76 crores. This is an initial approval, and the actual bonus ratio, record date, and other details are expected to follow in subsequent filings. Bonus issues reward existing shareholders by increasing their shareholding without any additional cost.
This is a positive development for existing shareholders as bonus shares increase the total share count held, though the stock price typically adjusts downward proportionally post-ex-date. Investors should watch for the final bonus ratio announcement for clarity on the magnitude.