Penny Stock Below Rs. 2 Declares 1:50 Bonus Shares: Do You Own?

During Friday's closing session, M Lakhamsi Industries Ltd, a micro-cap company in the commercial services sector, had a market capitalization of Rs 0.56 Cr. M Lakhamsi Industries Limited is your go-to Indian source for all your grain, Oil, spice, and oil seed needs. Over the past 50+ years, it consistently served over 25+ products to over 75 locations.

"The Board considered and recommended a bonus issue in the ratio of 1:50 i.e. 1 (One) New Bonus Equity Share for every 50 (Fifty) existing fully paid up Equity Shares of Rs 10/- each to public shareholders except promoter and promoter group only subject to approval by the members and any other applicable statutory and regulatory approvals at the Extra-Ordinary General Meeting to be held through Video Conferencing in order to achieve compliance with the MPS requirements mandated under rules 19(2)(b) and 19A of the SCRR read with regulation 38 of the LODR Regulations," said M Lakhamsi Industries in a stock exchange filing.

29690 equity shares of Rs. 10/- each fully paid-up to public shareholders only are the total number of securities proposed to be issued or the total amount for which the securities will be issued.

According to the Board of Directors of M Lakhamsi Industries, a free reserve of Rs. 2,96,900/- is required for implementing the bonus issue of 29690 shares to public shareholders and as of 30th September 2023, Rs. 14091956/-of reserve and surplus is available.

On Friday, the shares of M Lakhamsi Industries closed on the BSE at Rs 0.95 apiece up by 4.40% from the previous close of Rs 0.91. The scrip reached a 52-week-high of Rs 0.95 on (29/11/2023) and a 52-week-low of Rs 0.87 on (21/11/2023). During Q2FY24, the company reported promoters' shareholding of 74.99% and public stake of 25.00%.