1:4 Bonus Issue Ahead: SME Energy Stock To Give 1 Free Share On 4 Existing Shares, Hits New 52-Week High

Solex Energy is an SME stock listed only on NSE. And this stock is planning to reward its investors with 1 free share on existing four shares. The company has announced its bonus issue in the ratio of 1:4. Ahead of the reward, Solex Energy touched a new 52-week high on August 9.

As per the regulatory filing, the board of directors of the company approved the ratio of 1:4 i.e. 1 (One) new fully paid-up Equity Shares of ₹ 10/- (Rupees Ten only) each for every 4 (Four) existing fully paid-up Equity Shares of ₹ 10/- (Rupees Ten only) each to the eligible Shareholders of the Company as on Record Date, subject to the approval of the Shareholders and other statutory / regulatory approvals, consents, permissions, conditions, and sanctions, as required.

It said, the company will inform the "Record Date" for determining eligible Shareholders entitled for issuance of Bonus Shares, in due course.

Also, the company received approval for increasing Authorized Share Capital clause of Memorandum of Association from existing ₹ 9,00,00,000/- (90,00,000 Equity Shares of ₹ 10/- each) to ₹ 11,00,00,000/- (1,10,00,000 Equity Shares of ₹ 10/- each).

Further, the company received a nod for migration from NSE Emerge (SME Platform) to Main Board Platform of National Stock Exchange of India Limited ("NSE").