Active Stocks
Fri Apr 12 2024 15:57:45
  1. Tata Steel share price
  2. 163.50 -1.00%
  1. NTPC share price
  2. 362.00 -0.32%
  1. ITC share price
  2. 430.10 -1.56%
  1. HDFC Bank share price
  2. 1,518.90 -1.10%
  1. State Bank Of India share price
  2. 766.75 -1.57%
Business News/ Markets / Stock Markets/  Standard Capital declares 2:1 bonus shares, 1:10 stock split. Details here
BackBack

Standard Capital declares 2:1 bonus shares, 1:10 stock split. Details here

Bonus shares 2023: Standard Capital Markets has declared two bonus shares for one share held by its eligible shareholders

Stock split 2023: Standard Capital Markets has declared stock split from face value of ₹10 per share to Re 1 per share. (iStock)Premium
Stock split 2023: Standard Capital Markets has declared stock split from face value of 10 per share to Re 1 per share. (iStock)

Bonus shares, stock split: Shares of Standard Capital Markets Limited will be in focus when Indian stock market opens on Tuesday after extended weekend as stock market holiday falls on Monday due to Gurunanak Jayanti celebrations across nation. In meting held on Friday, the board of directors of the company has considered and approved proposal for issuance of bonus shares and stock split. The company board approved bonus shares in 2:1 ratio, which means two bonus shares for every one share of the company held by eligible shareholders. 

Likewise, board of directors of the company approved stock subdivision in 1:10 ratio, which means an eligible shareholder's shareholding in the company would rise 10 times without any further investment. However, this won't have any impact on absolute value on an eligible shareholder's investment amount in the company. The company board approved stock split and bonus shares during its meeting on 24th November 2023.

Standard Capital Markets bonus shares

The small-cap company informed stock market bourses about approval to the proposal for bonus shares citing, "In compliance with Regulations 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (including any statutory modification(s), amendment(s), and re-enactment(s) thereof) read with SEBI circular dated September 09, 2015 and July 13, 2023 (“SEBI Circular"), this is to inform that the Board of Directors of the Company at their meeting held today i.e., Friday, November 24, 2023, has, inter alia, considered and approved Bonus Issue of Equity Shares in the ratio of 2:1 i.e., 2 Equity Shares of 1/- each for every 1 Equity Share of 1/- each held by the shareholders of the Company as on the Record Date (to be determined by the Board and will be intimated to the exchange), subject to the approval of members of the Company by Extraordinary General Meeting."

Also Read: Gold price 544 away from life-time high. Will it climb a new peak?

Standard Capital Markets stock split

The company also informed about approval to stock split proposal citing, "In compliance with Regulations 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (including any statutory modification(s), amendment(s), and re-enactment(s) thereof) read with SEBI circular dated September 09, 2015 and July 13, 2023 (“SEBI Circular"), this is to inform that the Board of Directors of the Company at their meeting held today i.e., Friday, November 24, 2023, has, inter alia, considered and approved Sub-division of 1 (One) Equity share of face value of 10/-(Rupees Ten only) each fully paid-up to 10 (Ten) Equity shares of the face value of 1 (Rupee One only) each fully paid-up."

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decision.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

ABOUT THE AUTHOR
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.
More Less
Published: 25 Nov 2023, 10:20 AM IST
Next Story footLogo
Recommended For You
GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started
Switch to the Mint app for fast and personalized news - Get App