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Home / Markets / Stock Markets /  Board of multibagger IT stock recommends bonus issue: Check key takeaways
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Sonata Software Ltd is a mid-cap company having a market cap of 7,418.46 Crore operating in the IT sector. Sonata is one of the preferred company of global leaders in the retail, manufacturing, distribution, travel, services, and software industries.

The company has said in a BSE filing that “The Board considered, approved and recommended a bonus issue of 1 (one) equity share for every 3 (three) equity shares held by the Shareholders of the Company as on the record date. The bonus issue of equity shares will be subject to approval by the Shareholders through Postal Ballot, and any other applicable statutory and regulatory approvals. 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."

The company has also said in stock exchange filings that “The Board of Directors of the Company in the meeting held today i.e. 25th July, 2022 has accorded the in principle approval for merger of subsidiary of Sonata Software North America, Inc. viz. Sopris Systems LLC, with Sonata Software North America, Inc., wholly owned subsidiary of the Company."

Bonus issue details of Sonata Software as per the data available on stock exchanges

1. Total number of securities proposed to be issued or the total amount for which the securities will be issued (approximately): 35,053,102

2. Bonus ratio: 1:3 (1 equity share for every 3 equity shares held by the Shareholders of the Company as on the record date).

3: Details of share capital - pre and post bonus issue: Pre-Issue – 105,159,306, Post Issue – 140,212,408

4: Estimated date by which such bonus shares would be credited/dispatched: Within 2 months from the date of Board approval i.e. by 24th September 2022.

On Friday the stock closed at 705.90 apiece, up by 1.20% from the previous close. In the last 5 years the stock has generated a multibagger return of 341.05% and in the last 3 years the stock has generated a multibagger return of 112.55%. In the last 1 year the stock has fallen 10.48% and on a YTD basis the stock has dropped 18.53% so far in 2022.

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