BackMultibagger stock Gensol Engineering declares issuance of 2:1 bonus shares. Details here
Multibagger stock: Board of directors of the company has approved two bonus shares for every one shareholding of an eligible shareholders
PremiumBonus shares 2023: Gensol Engineering shares are one of the multibagger stocks that Indian stock market has delivered in 2023. In YTD time, this multibagger stock has risen from around ₹1013 to ₹2026, doubling investors' money in 2023. However, this is not the end for shareholders of Gensol Engineering Ltd. The board of directors of the company has declared bonus shares in 2:1 ratio. This means, eligible shareholders will be awarded two bonus shares for every one stock held by them on record date of bonus shares.
The multibagger stock informed Indian bourses about the development citing, "Pursuant to Regulations 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('Listing Regulations'), we wish to inform you that the Board of Directors of the Company at its meeting held today i.e. Tuesday, September 05, 2023 the board of directors of the Company has inter-alia, considered and approved and recommended bonus issue of 2 (Two) equity share for every 1 (One) equity shares held by the Shareholders of the Company as on the record date (to be determined by the Board of Directors). The bonus issue of equity shares will be subject to approval of the Members through General Meeting and any other applicable statutory and regulatory approvals, as may be required. 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."
GTL Engineering bonus share history
This is not the first time when this multibagger stock has recommended bonus shares. Prior to this bonus share announcement, the engineering company has given bonus shares to its shareholders in 2021 as well. As per the information available on BSE website, Gensol Engineering traded ex-bonus on 11th October 2021. The multibagger stock trade ex-bonus in October 2021 for issuance of bonus shares in 1:3 ratio, which means one bonus shares were awarded to eligible shareholders for every three shareholdings.
Gensol Engineering shares are available for trade on both NSE and BSE. It ended on Wednesday with a market cap of ₹2,470 crore and its trade volume on NSE after the end of Wednesday session was 1,41,431. Its 52-week high is ₹2,119.45 apiece whereas its 52-week low is ₹797.05 per share.
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