These 3 small-cap stocks to issue bonus shares this month. Details here
Ratnamani Metals and Tubes Limited, Xpro India and Swasti Vinayak Art and Heritage Corporation Limited are three companies that is going to issue bonus shares this month
PremiumThree small-cap companies — Ratnamani Metals and Tubes Limited, Xpro India and Swasti Vinayak Art and Heritage Corporation Limited — are going to issue bonus shares in July 2022. The board of directors of Ratnamani Metals and Tubes Limited has announced bonus share issue in 1:2 ration whereas Xpro India and Swasti Vinayak Art and Heritage has announced bonus shares in 1:2 and 5:4 respectively. the respective companies have informed Indian exchanges about the record date of bonus share issue as well. Ratnamani Metals and Tubes Limited has fixed 1st July 2022 as record date for bonus share issue while other two small-cap companies will turn ex-bonus stocks on 1st July 2022 i.e. today.
Here we list out important details in regard to bonus share issuance by three companies:
1] Ratnamani Metals and Tubes Limited: The board of directors of this company has recommended one bonus share for each two full paid-up equity shares. The bonus shares will be paid to those shareholders who hold the company stock on record date i.e. 1st July 2022.
The small-cap company informed about the bonus share recommendation to the Indian exchanges citing, "The Board considered and recommended a bonus issue in the ratio of 1:2 i.e. One new bonus Equity Share of Rs.2/- each for every Two existing fully paid up Equity Shares of Rs.2/- each, subject to approval by the members and any other applicable statutory and regulatory approvals through postal ballot. Further, the bonus shares will be credited to those members who are holding the equity shares as on a record date Friday, July 1, 2022."
2] Xpro India Limited: The board of directors of the company has recommended bonus share issue in the ratio of 1:2 that means one bonus share will be issued for two paid-up equity shares of the company. The company has fixed 4th July 2022 as record date for bonus share issue that means Xpro India shares have turned ex-bonus stock today.
Xpro India Ltd informed about the bonus share recommendation to the Indian exchanges citing, "We wish to inform you that the Board of Directors ('Board') of Xpro India Limited , at its meeting held today, i.e. May 25, 2022, have inter alia: Recommended the issue of Bonus Equity Shares in the proportion of 1 (one) Equity Share of Rs.10/- each for every 2 (two) existing fully paid-up Equity Shares of Rs.10/- each held by the shareholders of the Company as on the Record Date, subject to the approval of shareholders of the Company at the ensuing Annual General Meeting and other applicable statutory and regulatory approvals; as may be required. Further, the Board has also approved the reservation of 1 (one) Equity Share of Rs.10/- each for every 2 (two) Equity Shares of Rs.10/- each, to be allotted after exercise of option, by the warrants holder(s) for conversion of up to 19,68,000 convertible warrants outstanding as on March 31, 2022 into fully paid Equity Shares."
3] Swasti Vinayak Art and Heritage Corporation Limited: The board of directors of this small-cap company has recommended bonus share in 5:4 ratio that means the board has recommended issuance of 5 equity shares of the company for 4 fully paid-up shares held by the shareholders. The company board has fixed 4th July 2022 as record date for bonus share issue.
the small-cap company informed Indian bourses about the bonus share recommendation citing, "This is to inform the Exchange that pursuant to Regulation 30(2)of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 20L5, the Meeting of Board of Directors of the Company held on Monday, May 30, 2022 at 4:00 P.M. at the registered office of the Company at 303, Tantia Jogani Industrial Estate, J R Boricha Marg, Lower Parel, Mumbai-400011 wherein the following decisions were taken: Recommendation for the Bonus issue of Equity Shares in the proportion of 5 (Five) Equity Shares of Rs. 1/- each for every 4 (Four) Equity Shares of Rs. 1/- each held by shareholders of the Company as on the record date, subject to the approval of shareholders of the Company."
"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!
