IT stock's bonus shares issue record date this week. Details here

Sonata Software Ltd's record date for the bonus issue of its equity shares, that it had announced in the ratio of 1:3, is this week on Saturday, September 10, 2022 and the IT stock will start trading ex-bonus a day ahead of the record date i.e., on Friday, September 9, 2022.

Last week, the company in a BSE filing informed that “the company has revised the Record Date and fixed on Saturday, 10th September, 2022 for the purpose of ascertaining the eligibility of Shareholders for issuance of Bonus equity shares of the company in the proportion of one new fully paid up equity share of ₹1/- each for every Three fully paid up existing equity shares of ₹1/- each held, subject to the approval of Members which is being obtained by way of Postal Ballot through remote e-voting.”

While announcing its Q1FY23 earnings, Sonata Software had informed that the board considered, approved and recommended a bonus issue in the ratio of 1:3 that is of 1 (one) equity share for every 3 (three) equity shares held by the Shareholders of the company as on the record date.

The company had added that 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. Bonus shares are fully paid additional shares issued by a company to its existing shareholders.

Sonata Software Limited is a global technology company and is a service provider in business intelligence and analytics, application development management, mobility, cloud, social media, enterprise services, infrastructure management services among others.

The company posted net profit of ₹107.7 crore for the first quarter ended June 30, 2022 as against ₹100.9 crore in the previous quarter (QoQ). Whereas, it reported total income of ₹1,797 crore during the three month period from ₹1,508.6 crore quarter-on-quarter (QoQ).

Sonata Software shares have declined more than 15% in a year's period whereas the IT stock is down about 17% in 2022 (YTD) so far as compared to 0.2% fall in benchmark BSE Sensex during the period.