6:1 Bonus Shares: Record Date Fixed; Buy The Realty Stock To Be Eligible?

Kesar India Ltd. is a real estate small-cap firm, valued at Rs. 1,396 Cr. on the market. One of Dalal Street's multibagger stocks recently is Kesar India, which produced a 120.00% return in just one month, making it a multibagger. The stock has produced a multibagger return of 285.69% YTD and 3,061.60% in only one year. The stock has produced an incredible multibagger return of 1,876.00% during the past six months. In addition to being a multibagger, the stock merits consideration since the corporation establishes a set record date for bonus shares. India's Kesar India is a developer of real estate with a focus on premium residential and commercial buildings. For the quarter that ended in December 2023, the firm recorded net sales of Rs 18.50 crore and net profit of Rs 5.25 crore.

Kesar India Bonus Shares Record Date

"This is to inform you that pursuant to Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has fixed Tuesday, March 19, 2024 as the Record Date, for the purpose of ascertaining the eligibility of shareholders entitled for issuance of Bonus Equity Shares in the proportion of 6 (Six) Equity Shares of Rs. 10/- each for every 1 (One) existing Equity Share of Rs. 10/- each, subject to the approval of shareholders which is being obtained through Extra-Ordinary General Meeting," said Kesar India in a regulatory filing.

Kesar India Bonus Shares News

"Pursuant to SEBI (ICDR) Regulations and Listing Regulations, the allotment of shares in bonus issue shall be made only in dematerialized form and thus, in case of members who hold equity shares in dematerialized form, the bonus equity shares shall be credited to the respective beneficiary accounts of the Members with their respective Depository Participant(s) and in the case of Members who hold equity shares in physical form, the bonus equity shares shall be transferred to the Suspense Account opened in this regard, within such time as prescribed by law and the relevant authorities, subject to guidelines issued by SEBI in this regard," said Kesar India in a regulatory filing.

"The issue and allotment of the bonus equity shares to the extent they relate to Non-Resident Indians (NRIs), Overseas Citizen of India, Overseas Corporate Bodies (OCBs), Foreign Portfolio Investors (FPIs) and other foreign investors of the Company will be subject to the approval of the RBI, if applicable and as may be necessary," the company stated.

"The present Authorised Share Capital of the Company is Rs. 10,00,00,000/- (Rupees Ten Crore) divided into 1,00,00,000 (One Crore) Equity Shares of Rs. 10/- (Rupees Ten) each. In order to facilitate the issue of bonus equity shares and for meeting future requirements, if any, it is proposed to increase the Authorised Share Capital to Rs. 40,00,00,000/- (Rupees Forty Crore) divided into 4,00,00,000 (Four Crore) Equity Shares of Rs. 10/- (Rupees Ten) each. The increase in the Authorised Share Capital as aforesaid would entail consequential alteration of the existing Clause V of the Memorandum of Association of the Company," the company said.

"The equity shares of your Company are listed and traded on the SME Exchange of BSE Limited. With a view to encourage the participation of small investors by making equity shares of the Company affordable, increasing the liquidity of the equity shares and to expand the retail shareholder base, the Board of Directors in its meeting held on February 14, 2024 considered and approved a bonus issue of 6 (Six) equity shares for every 1 (One) existing equity share held as on a record date to be determined by the Company," said Kesar India in a regulatory filing.

Kesar India Share Price Target

Kesar India is bullish but also very overbought with next resistance at 4820 on the Daily charts. Investors should book profits at current levels as Daily close below support of 4174 could lead to a target of 3130 in the near term, said AR Ramachandran from Tips2trades.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.