Up 182% in 1 year! Multibagger stock announces 1:1 bonus issue to investors
Sunrise Efficient has approved a proposal to issue bonus shares to investors in the proportion of 1:1. Under the proposed announcement, for every one share investors hold, they will get an additional share. «The Board has recommended the issue of bonus equity shares in the ratio of 1:1 i.e., 1 bonus equity shares of Rs 10 each for every 1 fully paid-up equity shares held as on record date subject to the approval of the shareholders in forthcoming AGM,» the company said in a filing.
The record date for determining the eligibility of shareholders will be informed in due course. The bonus shares once allotted shall rank pari-passu in all respects and carry the same rights of the existing equity shares and will be entitled to participate in full in any dividend or corporate action. The bonus shares will be issued out of the free reserves or securities premium account of the company available as on March 2023.
The shares will be credited within 2 months from the date of announcement. A company issues bonus shares for their shareholders in order to increase the liquidity of the stock as well as with the aim to decrease its stock price to make it affordable for investors. Bonus shares are fully paid additional shares issued by a company to its existing shareholders.
When a firm issues bonus shares, its shareholders do not have to incur any extra costs to get them. The number of bonus shares you receive depends on the number of shares of the firm you already hold. All shareholders who own shares of the firm before the record date, which is determined by the firm, are eligible for additional shares.Sunrise Efficient Marketing is an industrial products supplier, offering electro-mechanical, automation, fire and safety, power
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