Press Release is attached. Jonjua Overseas Limited is a shareholder of Jonjua Air Limited and will be entitled to bonus shares on its holding. Jonjua Air Limited has declared bonus of 1:10 ....
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Jonjua Overseas Limited, listed on BSE SME, informed the exchange that the Board of Jonjua Air Limited (in which it is a shareholder) has approved a 1:10 bonus issue — 1 bonus share for every 10 equity shares of Rs. 10 each held. Jonjua Overseas will be allotted bonus shares in proportion to its existing holding in Jonjua Air Limited, subject to shareholder and regulatory approvals. The move is at the subsidiary/associate level and is still pending approvals before it becomes effective.
This is an indirect, pass-through benefit for Jonjua Overseas shareholders — its value depends on the size of its stake in Jonjua Air Limited and the post-bonus valuation. There is no direct change to Jonjua Overseas' own share capital or earnings, so the near-term stock price impact is likely limited.