Multibagger stock Gensol Engineering declares issuance of 2:1 bonus shares. Details here
Bonus shares 2023: Gensol Engineering shares are one of the multibagger stocks that Indian stock market has delivered in 2023. In YTD time, this multibagger stock has risen from around ₹1013 to ₹2026, doubling investors' money in 2023.
However, this is not the end for shareholders of Gensol Engineering Ltd. The board of directors of the company has declared bonus shares in 2:1 ratio.
This means, eligible shareholders will be awarded two bonus shares for every one stock held by them on record date of bonus shares. The multibagger stock informed Indian bourses about the development citing, "Pursuant to Regulations 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('Listing Regulations'), we wish to inform you that the Board of Directors of the Company at its meeting held today i.e.
Tuesday, September 05, 2023 the board of directors of the Company has inter-alia, considered and approved and recommended bonus issue of 2 (Two) equity share for every 1 (One) equity shares held by the Shareholders of the Company as on the record date (to be determined by the Board of Directors). The bonus issue of equity shares will be subject to approval of the Members through General Meeting and any other applicable statutory and regulatory approvals, as may be required.
The Bonus shares once allotted shall rank pari-passu in all respects and carry the same rights as the existing Equity Shares and shall be entitled to participate in full in any dividend and other corporate action, recommended and declared after the new equity shares are allotted." This is not the first time when this multibagger stock has recommended bonus shares. Prior to this bonus share announcement, the
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