In-principle approval received for 2:1 bonus issue of 13.81 cr shares
GRMOVER · price
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On the reaction day the stock moved 4.0 pts more than Nifty Microcap 250 and 3.1 pts more than its Other Agricultural Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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GRM Overseas has received NSE in-principle approval for a 2:1 bonus issue of 13,81,40,000 equity shares of face value Rs 2 each, including 77,18,000 shares reserved for convertible securities holders. Shareholders will get 2 bonus shares for every 1 share held, subject to statutory approvals. Total issue value is about Rs 27.63 crores. Share count will triple post issuance once final approvals are in place.
A 2:1 bonus ratio is highly rewarding for shareholders. Share count triples, so stock price adjusts lower on ex-bonus date, though total holding value stays the same.