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Alphalogic Techsys Limited recently announced that its board has approved and recommended the issuance of bonus share to the existing shareholders of the company. The bonus shares will be issued in the ratio of 1:2 means one bonus share for holding of two shares of the company. The company is yet to announce record date for bonus share issuance. Bonus shares are fully paid additional shares issued by a company to its existing shareholders.

"Recommendation of issuance of fully paid-up Bonus Share in the ratio of 1:2 i.e. 1 (One) Equity Share for every 2 (Two) fully paid up Equity Shares of 05/- each, subject to approval of the shareholders of the Company. The Company will inform in due course, the record date for determining shareholders entitled to receive bonus shares," Alphalogic Techsys informed in an exchange filing.

The company further informed that its board has approved fundraising in the company by issuance of convertible warrants on a preferential basis. The company plans to raise an aggregate amount of 6,00,00,507/- by issuing 15,32,780 convertible warrants at a price of 39.15/- each. 

Alphalogic Techsys Limited develops software. The company designs and creates web and mobiles application, as well as provides web development, consulting, and business intelligence services. This small-cap multibagger stock has surged from around 10.97 to 43.75 apiece levels from May 2021 to 4th August 2022, a period of 1 year.

Further, the board of directors of the company has also approved increase in the authorised capital of the company from the current 14 crore to 21 crore to facilitate the fundraising and bonus issue.

 

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