Back1:5 bonus shares: Berger Paints shares jump as stock trades ex-bonus today
Bonus shares 2023: Berger Paints had informed Indian bourses about issuance of bonus shares while declaring its Q1FY24 results
PremiumBonus shares 2023: Berger Paints shares witnessed buying interest during early morning deals on Friday as the stock is trading ex-bonus today. After price adjustment, Berger Paints shares opened lower at ₹627.30 apiece on BSE but it soon gained momentum and hit intraday high of ₹643.50 per share levels, logging over 2 per cent intraday rise during Friday session.
The board of directors of Berger Paints Ltd has declared issuance of bonus shares in 1:5 ratio, which means one bonus share for every five shares held by the eligible shareholders of the company. the company board later on declared 23rd September 2023 as record date for issuance of bonus shares on ex-date basis.
Berger Paints bonus share record date
Berger Paints informed Indian bourses about the bonus share record date citing, "This is to inform you that pursuant to Regulation 42 of the Securities and Exchange Board of India (Listing Obligations & Disclosure Requirements) Regulations, 2015, the Company has fixed Saturday, 23rd September, 2023 as the "RECORD DATE", for the purpose of ascertaining the eligibility of shareholders entitled for issue of Bonus Equity Shares of the Company in the ratio of 1:5, i.e., 1 (One) Equity Share of Re 1/- each for every 5 (Five) Equity Shares of Re. 1/- each, which was recommended by the Board of Directors of the Company vide its meeting held on Wednesday, 9th August, 2023 and for which approval of the shareholders have already been obtained through postal ballot on Friday, 8th September, 2023."
Berger Paints had declared bonus shares while announcing its Q1 results for the financial year 2023-24. In its exchange communication, Berger Paints had informed Indian stock market exchanges that its board of directors will consider and approve bonus shares in its board meeting scheduled on 9th August 2023 that it did. However, they kept the record date announcement reserved. The company declared bonus shares record date on 12thn September 2023.
The Kolkata-headquartered company had informed Indian stock market about the developments citing,"This is in continuation to our letter dated 1st August, 2023 intimating you that the Board of Directors of the Company may also consider proposal for issue of "Bonus Shares" by capitalisation of reserves, subject to approval of the shareholders of the Company, in the forthcoming meeting of the Board of Directors of the Company to be held on 9th August, 2023, at 12 noon as called for considering and approval of, inter alia, the Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter ended 30th June, 2023."
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