SBC Exports Wins Rs 2.93 Cr Order From EPFO After 1:2 Bonus Share Announcement

SBC Exports Ltd. is a small-cap firm in the textile sector with a Rs 650 Cr market value. The company on 5th December declared bonus shares in a 1:2 ratio after which the company announced a winning order deal of Rs 2.93 Cr from EPFO.

The firm declared that a contract for the hiring of technical resources has been awarded by the Employees Provident Fund Organisation (EPFO) under the Ministry of Labour and Employment through GeM. For the aforementioned contract, the total purchase order cost is Rs. 2,93,06,786. The order will be carried out within a year.

"This contract is governed by the General Terms and Conditions, conditions stipulated to this Product/Service as provided in the Marketplace. This Contract between the Seller and the Buyer, is for the supply of the Goods and/ or Services, detailed in the schedule above, in accordance with the General Terms and Conditions (GTC) unless otherwise superseded by Goods / Services specific Special Terms and Conditions (STC) and/ or BID/Reverse Auction Additional Terms and Conditions (ATC), as applicable.

The buyer can increase or decrease the contract quantity or contract duration up to 25 percent at the time of issue of the contract. However, once the contract is issued, contract quantity or contract duration can only be increased up to 25 percent. Bidders are bound to accept the revised quantity or duration," said SBC Exports in a stock exchange filing.

At its meeting on Tuesday, December 5, 2023, the company's board of directors approved the issuance of bonus shares in the ratio of 1:2, or one equity share for every two equity shares held by the company's existing equity shareholders as of the record date, which will be determined in due course.

On Friday, the shares of SBC Exports were trading 0.58% lower at Rs 30.60 apiece during the morning deals. The stock has gone up by 97.73% during the past year, and on a year-to-date basis, it has produced a multibagger return of 101.65%.