Gujarat Toolroom shares hit 5% upper circuit on plans to consider 5:1 bonus share issue
smallcap stock Gujarat Toolroom today zoomed 5% to hit their upper circuit at Rs 18.08 on the BSE today after the company on Wednesday announced that it will consider a 5:1 bonus share issue in its upcoming board meeting on January 5.
“Pursuant to Regulation 29(1)(f) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that a meeting of the Board of Directors of Gujarat Toolroom Limited is scheduled to be held on Monday, January 6, 2025, to consider and approve the proposal for issuance of bonus shares in the ratio of 5:1 (five bonus equity shares for every one equity share) to the eligible equity shareholders of the Company as on the proposed record date by capitalisation of securities premium, subject to the approval of the shareholders of the Company,” the company informed via an exchange filing.
A 5:1 bonus share issue means that for every 1 share an investor holds, the company will issue 5 additional shares for free.
In case the said bonus issue is approved by Gujarat Toolroom’s board, this will be the first instance of the company issuing bonus shares to its shareholders, according to the data available on Trendlyne.
Also read: KPI Green Energy among 4 stocks to trade ex-bonus tomorrow
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