Home / Markets / Stock Markets /  Penny stock of 1 to give 2:1 bonus shares: Do you own?

Pro Fin Capital Services Ltd is a small company in the commercial services industry with a market capitalization of 34.98 crore. Financial services including broking are provided by Pro Fin Capital Services Ltd. At their meeting held today, the Board of Directors proposed issuing bonus shares in a 2:1 ratio.

The company has said in a regulatory filing that its Board of Directors has “Considered and approved increase in the Authorised Share Capital of the Company from the present Rs. 25,00,00,000 (Twenty Five Crore) divided into 25,00,00,000 (Twenty Five Crore) Equity Shares of Rs. 1/- (Rupee one) each to Rs. 32,00,00,000 (Thirty Two Crore) divided into 32,00,00,000 (Thirty Two Crore) Equity Shares of Rs. 1/- (Rupee one) each ranking pari passu in all respect with the existing equity shares and subsequent alteration to the memorandum of association and articles of association of the Company, subject to the approval of members; Recommended the Bonus Issue of Equity shares in the proportion of 2(Two) Equity shares of Rs. 1/- each for every 1 (one) Equity share of Rs. 1/- each to the holders of the Equity Shares of the Company issued by way of preferential issue on May 06, 2022, subject to the approval of shareholders i.e. in compliance with the applicable laws. In this respect the record date shall be decided by the board and will be intimated to exchange."

Bonus share details of Pro Fin Capital Services as per the data available on stock exchange filings

Total number of securities proposed to be issued or the total amount for which the securities will be issued (Approximately): Rs. 6,50,00,000/- divided into 6,90,00,000/- Equity shares of Rs. 1 /- each.

Bonus ratio: 2:1 2(Two) equity shares of Rs. 1/- each for every 1 (one) existing equity shares of Rs. 1/- each held as on a record date (it shall be decided by the board and will be intimated to exchange).

Pre- Bonus Paid-up share capital: Rs. 21,20,07,000 divided into 21,20,07,000 equity shares of Rs. 1/- each.

Post bonus paid-up share capital: Rs. 27,70,07,000 divided into 27,70,07,000 equity shares of Rs. 1/- each.

Estimated date by which such bonus shares would be credited / dispatched: Within 2 months from the date of meeting of its board of directors wherein the decision to announce the bonus issue was taken subject to shareholders approval.

The shares of Pro Fin Capital Services Ltd closed today at 1.65 apiece, up by 3.77% from the previous close of 1.59. In the last 1 year, this penny stock has fallen 51.75% and on a YTD basis, the stock has fallen 54.29% so far in 2022.

ABOUT THE AUTHOR

Vipul Das

Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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