5:1 Bonus Allotment: Penny Electrical Stock To Allot 4,20,375 Free Shares; Board Meet On Oct 7

Classic Electricals, is a penny stock engaged in the business of trading & distributors. The stock turned ex-bonus on October 4, for a massive bonus issue of 5:1. The company has fixed a meeting on October 7, where its board of directors will approve the allotment of bonus shares.

Classica Electricals Share Price:

The stock price froze at its 52-week high of Rs 15.50 apiece on October 4, after turning ex-bonus. The stock's price-to-equity ratio is at 17.85x, while the return on equity is at 1.09%.

The stock's new 5% upper circuit and lower circuit are at Rs 2.71 apiece and Rs 2.47 apiece, adjusted to the bonus issue ratio.

The company's market cap is around Rs 2.95 crore.

Classic Electricals Bonus Issue:

On October 4th, the stock turned ex-bonus, which is also the record date to determine eligible shareholders for the bonus ratio.

5:1 bonus ratio means that Classic Electricals will reward investors with 5 new fully paid-up equity shares of Rs 10/- (Rupees Ten) each for every 1 (One) existing fully paid-up equity share of Rs. 10/- (Rupees Ten) each held by them.

Classic Electricals Bonus Issue Allotment:

As per the regulatory filing, the company announced that the next meeting of the Board of Directors of the Company will be held on Monday, the 7th October 2024 to consider inter alia allotment of 4,20,375 Equity shares by way bonus to public Equity shareholders in the ratio 5 (Five) new equity shares for every 1 (One) existing equity shares held in the Company as per the In-principle approval for the said issue received from BSE Limited.

About Classic Electricals:

Classic Electricals Limited was established and registered in 1985 with its main office located in Mumbai, The Company is into the business of manufacturers, moulders, producers, assemblers, processors, buyers, sellers, importers, exporters and dealers in switch plates, switch boxes, made from polystyrene, polypropylene, polycarbonate, ABS nylon and plastic materials and also in all kinds of electrical goods, accessories, electrical wiring accessories, instruments, appliances and apparatus, of every kind and description including switches, sockets, plugs lighting, fittings, fixtures, chokes, starters, conductors jacks and adaptors, bells, buzzers, fuse, switch-gears, switch-boards, motors, heaters, capacitors, motor starters, of all kinds and description including components, parts, material and accessories thereof.