Iris Clothings Limited has informed the Exchange regarding Notice of Postal Ballot
IRISDOREME · price
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Awaiting price reaction for this filing.
Iris Clothings Limited has sent a Postal Ballot Notice to shareholders seeking approval for a 1:1 bonus issue of equity shares. The Board approved this on 15th May 2025, proposing one new fully paid-up equity share of Rs. 2 each for every one existing share held, by capitalizing free reserves and retained earnings. Voting will be conducted electronically through CDSL's e-voting platform between 27th May 2025 and 25th June 2025, with the cut-off date for eligibility set as 16th May 2025. Results are expected to be declared on or before 27th June 2025. The bonus shares will be allotted in dematerialized form only, and the new shares will rank equally with existing shares.
If approved, shareholders will receive one additional share for every share held, doubling the share count. The stock price is expected to adjust downward on the ex-date to reflect the bonus, but total holding value should remain unchanged immediately after issue. Bonus issues generally improve share liquidity and affordability, which can attract more retail investors.