Home / Markets / Stock Markets /  Nykaa's bonus shares issue record date this week. Check details

Shares of FSN E-Commerce Ventures, the parent of cosmetics-to-fashion retailer Nykaa, will start trading ex-bonus later this week on Thursday, November 10, 2022, a day ahead of its record date for the bonus issue of equity shares in the ratio of 1:5.

Last month, Nykaa announced that its board approved the issuance of bonus equity shares of the company in the ratio of 1:5 i.e., the company will issue bonus of 5 shares for every 1 share held as on the record date. The board of directors of the company later revised the record date for its bonus issue to Friday, November 11, 2022 from November 03 that was fixed earlier.

The company said that the issuance of bonus shares will be out of Securities Premium Account available as on March 31, 2022. Bonus shares are fully paid additional shares issued by a company to its existing shareholders.

The actual number of bonus equity shares to be issued and post bonus issue share capital will be determined based on the paid-up share capital as on the record date, the company added.

“We hereby inform that the Board at its Meeting held on October 03, 2022, inter alia, has approved bonus issue of equity shares in the proportion 5 (Five) fully paid-up equity share of Re 1/- each for every 1 (One) fully paid-up equity shares of Re 1/- each held by the shareholders of the company as on the record date, subject to shareholders’ approval by way of postal ballot," Nykaa had informed in an exchange filing.

FSN E-commerce Ventures Ltd last week said that the company has received approval from shareholders on the bonus shares issue and new employee stock options (ESOP) and employee stock unit plan (RSU) with an overwhelming majority.

The company believes that Bonus Shares will encourage the participation of retail investors in the long term, as well as see a wider shareholding.

Nykaa posted a multi-fold increase in its consolidated net profit at 5.19 crore for the three months ended September 2022 as compared to 1.17 crore in the same period a year ago. The consolidated Gross Merchandise Value (GMV) of Nykaa grew 45%year-on-year to 2,345.7 crore in Q2FY23.

 

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