Small-cap stock declares issuance of 1:1 bonus shares. Details here
Bonus shares 2023: JTL Industries Ltd are one of the small-cap stocks that has declared issuance of bonus shares. The board of directors of the company on Saturday last week declared bonus shares while discussing the Q1 results 2023. The company board considered and approved bonus shares in 1:1 ratio, which means one bonus share will be given for every one stock held by an eligible shareholder.
The small-cap stock informed Indian stock market bourses about issuance of bonus shares citing, "Pursuant to Regulation 30, 33 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, (the "Listing Regulations"), We hereby inform you that the Board of Directors at its meeting held today i.e., 29th day of July, 2023, has, inter alia, Approved the issue of Bonus shares in the ratio of 1:1 i.e. 1(one) equity shares of Rs. 2/- each for every 1 (One) equity shares held by the shareholders of the Company as on the record date , subject to the approval of shareholders to be obtained in the ensuing AGM.
The record date for the issue of bonus shares shall be intimated in due course." The board of directors of the small-cap company also considered and approved increase in the Authorized Share Capital of the Company from Rs. 24,00,00,000/- (Rupees Twenty-Four Crore only), divided into 12,00,00,000 (Twelve Crore) Equity Shares of Rs. 2/- (Rupees Two) each to Rs.
50,00,00,000/- (Rupees Fifty Crore only), divided into 25,00,00,000 (Twenty-Five Crore ) Equity Shares of Rs. 2/- (Rupees Two ) each, subject to the approval of the shareholders in the ensuing AGM. Steel pipe maker company reported total income of ₹505.5697 crore during April to June 2023 quarter
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