Axita Cotton: Bonus shares 2023: Axita Cotton Ltd., a small-cap business, has announced bonus shares for its qualified owners. During its meeting on Thursday, the company’s board of directors reviewed and approved the proposal for bonus shares. Bonus shares were authorized by the corporate board in a 1:3 ratio, meaning that qualified shareholders will get one bonus share for every three stocks they owned on the bonus share record date—which will be revealed later.
Bonus shares of Axita Cotton for 2023
With reference to the captioned subject and pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 & other applicable SEBI Regulations, we hereby inform you that, at the Board of Directors’ meeting held today, Thursday, November 23, 2023, among other things, they have recommended the issuance of Bonus Equity Shares in the ratio of 1:3 [i.e., 1 (One) Bonus Equity Share of Rs. 1/- each for every 3 (Three) fully paid-up Equity Share held as on record date], subject to shareholder approval. This information was provided to Indian stock market exchanges. We will notify you later on the record date for calculating the number of eligible shareholders who are eligible to receive Bonus Shares.
As of the date of this letter, the pre-bonus issue paid-up equity share capital is Rs. 19,56,60,000/- consisting of 19,56,60,000 equity shares of Rs. 1/- each, Axita Cotton stated. The post-bonus issue paid-up equity share capital will be Rs. 26,08,80,000/-, consisting of 26,08,80,000 rupee equity shares. 1/- each.
Axita Cotton continued by saying that the Bonus Issue will be implemented using ₹6,52,20,000/-from the Balance of Free reserves (Retained Earnings).
Regarding the approximate timeframe by which such Bonus Shares would be credited or sent, Axita Cotton stated, Within 2 months from the date of approval of the Board of Directors.
