Pursuant to the provisions of Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the ....
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Macfos Ltd has received in-principal approval from BSE to issue bonus equity shares to its shareholders under SEBI LODR Regulations. The proposed bonus issue is in the ratio of 1 new equity share for every 10 existing shares held, with not exceeding 9,41,682 equity shares of Rs. 10/- each to be allotted. The approval is subject to conditions including shareholder approval, submission of listing application, payment of additional listing fees, and compliance with applicable laws. Allotment will be made only in dematerialized form.
This is a positive development for shareholders as a bonus issue increases the number of shares held without additional cost, though the share price typically adjusts downward proportionally. Shareholders still need to approve the bonus issue before it is finalized.