Board approves proposed 1:1 bonus issue and capital increase
UTSSAV · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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The board approved a proposal for a 1:1 bonus issue and an increase in authorised capital from Rs 24.998 crore to Rs 60 crore, subject to shareholder approval. About 24.998 million Rs 10 shares would be issued, doubling paid-up shares from 24.998 million to 49.996 million. The issue needs Rs 25 crore of free reserves. The record date is yet to be set.
The bonus doubles share count but does not create value by itself. The share price may adjust after the record date; shareholder approval is still pending.