BackVarun Beverages announces bonus shares issue. Details here
Varun Beverages said bonus shares will be issued out of securities premium account of the Company available as at December 31, 2021
PremiumVarun Beverages on Thursday announced that its board at its meeting held today have recommended bonus issue of equity shares in the proportion of one for every two held by the shareholders of the company i.e., 1:2. Shares of Varun Beverages were trading nearly 3% higher at ₹1,080 apiece on the BSE in afternoon deals.
“The board of directors has considered and approved the bonus issue of equity shares in the proportion of 1 (One) equity share of ₹10/- each for every 2 (Two) equity shares of ₹10/- each held by the shareholders of the company as on the record date, subject to the approval of shareholders through postal ballot i.e. in compliance with the applicable laws," the company informed in an exchange filing.
Bonus shares will be issued out of securities premium account of the company available as at December 31, 2021, Varun Beverages added. The record date is yet to be announced. Bonus shares are fully paid additional shares issued by a company to its existing shareholders.
Varun Beverages net profit for the quarter ended March 2022 increased 96% at ₹254 crore as compared to ₹129 crore year-on-year (YoY) whereas its revenue during the said quarter grew 26% to ₹2,867.5 crore from ₹2,270 crore in the same quarter last year.
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