Bonus Shares: 1.5:1 Ratio, November 14 Record Date; Buy For The Allotment?

A reliable partner in the finance and investment industry is Worth Investment and Trading Ltd. Worth Investment and Trading Ltd., a prestigious and openly traded investment company on the Bombay Stock Exchange (BSE), was established in 1980. A wide range of services, including trading, research, analysis, portfolio management, and investment advisory, are provided by Worth Investment and Trading Ltd. Following the company's announcement of the bonus share record date, Worth Investment & Trading Co. Ltd.'s shares closed Friday's trading session on the BSE 4.01% higher at Rs 36.03, with a market capitalisation of Rs 534.28 Cr.

Worth Investment & Trading Co Bonus Shares Record Date

"This is further to our letters dated October 5, 2024 intimating the approval by the members for issue of bonus shares in the ratio of 1.5:1 i.e (for every 2 Shares, 3 shares will be allotted as Bonus Shares) In this regard, we wish to inform that the Company has fixed Thursday, November 14, 2024 as the Record Date for the purpose of determining the equity shareholders of the Company eligible for bonus equity shares of the Company," said Worth Investment & Trading Company in a stock exchange filing on 31st October, 2024.

Worth Investment & Trading Co Bonus Shares Update

"Pursuant to Section 63 and other applicable provisions of the Companies Act, 2013 and all other applicable laws and regulations, a sum of Rs 2435.39 Lakh standing to the credit of the Reserves as per the audited Balance Sheet of the Company as on March 31, 2024 forming a portion of the undistributed profit of the Company, be capitalised and that the amount so capitalised be applied fully in paying up in full at par 222430200 new Equity Shares, i.e. in the ratio of 1.5:1 i.e. 1.5 (One point five) new fully paid-up Equity Shares of Re. 1/- each for every 1 (One) existing fully paid-up Equity Share of Re. 1/- each having a face value of Rs 1/- each (hereinafter referred to as a "Bonus Shares") in the share capital of the Company and that the said Bonus Shares be appropriated by way of capital and not as income and allotted and distributed as fully paid Bonus Shares to those members whose names appear in the records of the Company's Depositories as the holders of the existing Equity Shares on such date (hereinafter referred to as "the Record Date") as may be hereinafter determined by the Board of Directors in the proportion of one point five Equity Share fully paid up against one Equity Share fully paid up held by such persons respectively provided that the issue and allotment of the said Bonus Shares," said the company in a regulatory filing.

Worth Investment & Trading Co Bonus Shares Allotment

"The receipt of approvals, if any, as may be necessary from the Securities and Exchange Board of India (SEBI) and the Bombay Stock Exchange (BSE) in which the Company's existing Equity Shares are listed for trading. that the necessary approval of the Reserve Bank of India, if any, is obtained under the Foreign Exchange Management Act, 1999 and subsequent amendments, if any, thereto, for the issue and allottment of the Bonus Shares to those members of the Company who are the residents outside India as on the "Record Date". That the said Bonus Shares shall, in all respects, rank pari passu with the existing Equity Shares of the Company except they shall be entitled to participate only in such dividends as may be declared subsequent to the allotment of the Bonus Shares and that they shall not be entitled to participate in the dividend that may be declared in respect of the financial year or for any period prior to the allotment of the said Bonus Shares. The said Bonus Shares shall also be subject in all respects to the provisions of the Company's Memorandum and Articles of Association," Worth Investment & Trading Co informed stock exchanges.

Worth Investment & Trading Co Share Price Target

"Worth Investments is slightly bearish on the Daily charts with strong resistance at 37.2. A Daily close below support of 33.6 could lead to a target of 29 in the near term," said A R Ramachandran, Independent Research Analyst.

Disclaimer

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