Active Stocks
Wed Dec 06 2023 11:43:42
  1. Tata Steel share price
  2. 132.25 0.49%
  1. State Bank Of India share price
  2. 609.75 0.22%
  1. Power Grid Corporation Of India share price
  2. 223.1 0.31%
  1. NTPC share price
  2. 282 -1.23%
  1. Tata Motors share price
  2. 711.8 0.49%
Business News/ Markets / Stock Markets/  Infibeam Avenues approves 1:1 bonus share issue
Back Back

Infibeam Avenues approves 1:1 bonus share issue

Infibeam Avenues said that the record date, for determining eligible shareholders entitled to receive bonus shares, will be announced in due course

Infibeam shares closed 5% lower Premium
Infibeam shares closed 5% lower 

Infibeam Avenues Ltd (IAL) on Monday posted an 89% jump in its net profit to 24 crore for the December 2021 quarter, and announced a bonus share issue for the shareholders. Shares of Infibeam closed 5% lower at 44 apiece on the BSE in Monday's deals.

The Board has approved the issue of one bonus share for every one equity share held (in the ratio of 1:1) by the company's shareholders as on 'Record Date'. The record date, for determining eligible shareholders entitled to receive bonus shares, will be announced in due course, it added.

The bonus issue of equity shares is subject to the approval of the shareholders and other applicable statutory and regulatory approvals, as may be required, the filing said.

Additionally, the board of the company has also declared an interim dividend of Re 0.05 per equity share and the record date for payment of this interim dividend has been set for February 8, 2022.

Infibeam Avenue's gross revenue during October-December 2021 grew 74% to 397 crore from 228 crore in the year-ago period. The company has also announced the acquisition of UVIK Technologies.

The transaction involves a cash consideration of 12 crore and a preferential issue of about 61.1 lakh equity shares (up to 27.5 crore), and the balance amount by way of the reward incentive mechanism, as mutually agreed, the company added.


Milestone Alert!
Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 31 Jan 2022, 05:02 PM IST
Next Story footLogo
Recommended For You

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started
Switch to the Mint app for fast and personalized news - Get App