Kitex Garments share price was locked in at 5% upper circuit on Monday after the company allotted bonus shares to its shareholders. Kitex Garments shares were up 5% at ₹256.35 apiece on the BSE.
Kitex Garments bonus shares record date was January 17 and the company has allotted 13.3 crore equity shares to the eligible shareholders. Kitex Garments bonus issue ratio was 2:1, which means two new free shares for every one share held.
“...we hereby inform that the Board of Directors of Kitex Garments at its meeting held today i.e., January 20, 2025, has allotted 13,30,00,000 fully paid-up Bonus Equity Shares of the face value of ₹1 each in the ratio of 2:1, i.e, 2 (Two) new Bonus Equity Shares of ₹1 each for every 1 (One) existing Equity Shares of ₹1 each fully paid-up, held by the shareholders of the Company as on the record date i.e., Friday, January 17, 2025,” Kitex Garments said in a regulatory filing on Monday.
Consequent to the bonus share allotment, the paid-up equity share capital of the company stands increased to ₹19.95 crore divided into 19.95 crore equity shares of ₹1 each, it added.
“The Bonus Equity Shares allotted as above shall rank pari-passu in all respect and carry the same rights as the existing equity shares of the company including dividends and other corporate benefits, if any, declared by the Company after the said allotment,” the company said.
Kitex Garments stock price has gained over 10% in the month of January 2025, while the shares have rallied more than 51% in three months. Kitex Garments share price has given multibagger returns of more than 250% in three months.
The smallcap stock has seen a staggering rally of over 500% in five years.
At 1:00 PM, Kitex Garments shares were still locked at 5% upper circuit of ₹256.35 apiece on the BSE.
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