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Business News/ Markets / Stock Markets/  Small-cap stock declares 4:1 bonus shares after giving 60% YTD return

Small-cap stock declares 4:1 bonus shares after giving 60% YTD return

Small-cap company Anmol India Ltd has announced four bonus share issuance to eligible shareholders for every one share they own, pending the announcement of a record date

Small-cap stock news: No allotment letters shall be issued to the allottees of the bonus shares.Premium
Small-cap stock news: No allotment letters shall be issued to the allottees of the bonus shares.

Bonus shares 2023: Small-cap company Anmol India Ltd, which has a market cap of around 275 crore, has declared issuance of bonus shares in the ratio of 4:1. This means the small-cap company will award four bonus shares free of cost to its eligible shareholders for holding one share of the company. The small-cap company is yet to announce record date for issuance of bonus shares.

The Small-cap company informed Indian stock market exchanges about issuance of bonus shares citing, "Pursuant to the recommendation of the Board of Directors of the

Company (hereinafter referred to as “the Board", which expression shall be deemed to include a Committee of Directors or officer(s) of the Company duly authorized in this behalf), approval of the Members of the Company be and is hereby accorded to the Board for capitalization of such sum out of free reserves and Securities Premium Account of the Company, as may be considered necessary by the Board, for the purpose of the issuance of bonus equity shares of face value of Rs. 10/- (Rupees Ten only) each, credited as fully paid-up equity shares to the holders of the existing equity shares of the Company, whose names appear in the Register of Members/ List of Beneficial Owners, on such date (“Record Date") as may be fixed in this regard by the Board/ Committee thereof, in the proportion of 4 (Four) fully paid up equity share for every 1 (One) existing fully paid up equity share held by the Members and that the Bonus shares so issued and allotted shall, for all purposes, be treated as an increase in the Paid-up Share Capital of the Company held by each such member."

Anmol India went on to add that bonus shares so allotted shall rank pari passu in all respects with the fully paid-up equity shares of the Company as on the record date and the same shall be subject to the terms and conditions contained in Memorandum and Articles of Association of the Company.

"No allotment letters shall be issued to the allottees of the bonus shares and as all the members of the company held shares in dematerialized form, the bonus equity shares shall be credited to the respective beneficiary accounts of the members with their respective Depository Participant(s)," company added.

Anmol India share price history

Anmol India share price has risen to the tune of over 6 epr cent in last one month whereas in last six months, it ahs risen to the tune of more than 55 per cent. In year-to-date ((YTD) time, Anmol India share price has appreciated from around 150 to 248 apiece levels, logging more than 60 per cent appreciation in this time.

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Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
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Updated: 06 Jun 2023, 01:53 PM IST
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