Penny stock of ₹1 declares bonus shares in 1:5 ratio: Do you own?
- Small-cap firm 7NR Retail Ltd operates in the consumer discretionary industry and has a market valuation of ₹31.97 Cr.
Small-cap firm 7NR Retail Ltd operates in the consumer discretionary industry and has a market valuation of ₹31.97 Cr. In its wholesale and retail segments, the company primarily engages in the business of dealing in apparel. The company also engages in the branding and sale of ready-to-wear apparel, suiting, shirting, textiles, and all other textile products. Existing shareholders and potential buyers should be informed of the 1:5 bonus shares that the company's board of directors has declared.
The company has said in a stock exchange filing that its Board of Directors has “Considered, approved and recommended bonus issue of 1 (One) equity share for every 5 (Five) 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 paripassu 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 share details of 7NR Retail as per BSE
Total number of securities proposed to be issued or the total amount for which the securities will be issued (approximately); Upto 4,66,78,000 Equity Shares to be issued
Whether bonus is out of free reserves created out of profits or share premium account; Either out of free reserves or share premium or both.
Bonus ratio; 1:5 (1 equity share for every 5 equity shares held by the shareholders of the Company as on the Record date)
Pre-Bonus Issue Paid-up share Capital: Rs. 23,33,90,000/- divided into 23,33,90,000 equity shares of Re. 1/- each.
Post-Bonus Issue Paid-up share Capital: Rs. 28,00,68,000/- divided into 28,00,68,000 equity shares of Re. 1/- each.
Free reserves and/ or share premium required for implementing the bonus issue; Rs. 643.877 Lakhs
Estimated date by which such bonus shares would be credited/dispatched; Within 2 months from the date of approval of the Board i.e. on or before 18th December, 2022
In Q2FY23, 7NR Retail's net profit dropped 73.33% YoY to ₹0.08 crore from ₹0.30 crore in Q2FY22. Total sales increased 440.82% YoY to ₹10.60 crore in Q2FY23 from ₹1.96 crore in the quarter which ended in September 2021. The firm reported earnings per share (EPS) of Rs. 0.01 for the period ending September 30, 2022.
Today's closing price for 7NR Retail Ltd. shares was Rs. 1.36 a piece, down 0.73% from yesterday's close of Rs. 1.37. The stock had a total volume of 8,979,360 shares traded today. The stock has dropped 13.38% YTD so far in 2022.
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