Home/ Markets / Stock Markets/  Multibagger stock announces issue of bonus shares in 1:10 ratio

Ducon Infratechnologies announced that its board at their meeting held on 25th February, 2022 considered and approved the bonus issue of equity shares in ratio of 1:10. It has also approved the increase in authorised share capital of the company and consequent change in capital clause of Memorandum of Association of the company.

“The Board recommended the Bonus Issue of Equity Shares in the proportion of 1 (One) Equity Share of Re1/- each for every 10 (Ten) Equity Shares of Re 1/- each held by the shareholders of the Company as on the record date, subject to the approval of the shareholders through Postal Ballot," the company informed in an exchange filing.

Further, the board has also approved the reservation of 1 equity share of Re 1/- each for every 10 equity shares of Re 1/- each to be acquired at the time of conversion for the warrant holder whose warrants would be converted.

A company usually issues bonus shares for their shareholders in order to increase the liquidity of the stock as well as with the aim to decrease its stock price to make it affordable for investors. Bonus shares are fully paid additional shares issued by a company to its existing shareholders.

The multibagger stock has rallied over 260% in a year's period, whereas has surged 104% in the last six months alone. Ducon Infra shares have risen about 9% in 2022 (year-to-date or YTD) so far as compared to over 5% fall in benchmark BSE Sensex. 

Ducon Infratechnologies is a fossil fuel technology company anhas diversified technologies and operates in a variety of business segments, to provide solutions and meet challenges in the infrastructure, FGD systems and material handling sectors. In the infrastructure sector, Ducon provides complete FGD systems in thermal power plants, bulk material handling systems for Alumina, fly ash handling systems and electrification projects.

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Updated: 28 Feb 2022, 08:20 AM IST
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