Small-Cap Stock Hit 5% Lower Circuit On Revising Record Date For 1st Ever 9:5 Bonus Shares

On Thursday, the shares of Dhyaani Tile & Marblez Ltd opened on the BSE at Rs 110 apiece and reached a 5% lower circuit limit at Rs 103.28 after the company announced an update on its bonus share corporate action.
The company has declared bonus shares in a 9:5 ratio and for the purpose of the same the company earlier fixed the record date as Thursday, 7th December, 2023 but it has now been revised to Tuesday, 12th December, 2023 as per a stock exchange filing dated 6th December.

"In Continuation to our earlier communication dated 23rd November, 2023 informing the fixation of Record date of Thursday, 7th December, 2023 for the purpose of ascertaining the eligibility of the shareholders entitled for Bonus Shares, we would like to inform you that the record date has been revised to Tuesday, 12th December, 2023.

Therefore, Tuesday, 12th December, 2023 is hereby declared as revised record date for issuance of Bonus Equity Shares of the Company in the proportion of 9 (Nine) Equity Shares of Rs. 10/- each for every 5 (Five) existing Equity Share of Rs. 10/- each," said Dhyaani Tile & Marblez in a stock exchange filing.

After being listed after 20 months on April 12, 2022, the company announced the first-ever bonus shares in a 9:5 ratio. This means that in addition to the five shares they already owned on the record date, eligible shareholders will get an additional nine shares.

As part of the corporate action, a total of 27,36,000 equity shares having a face value of Rs. 10 apiece are scheduled to be issued. Bonus shares, with a balance of Rs. 2,74,31,000/-, will be granted from the company's reserves and surplus that are available as of March 31, 2023. The bonus shares are expected to be credited by December 17, 2023, at the latest.

According to a BSE filing by the Board of Directors on October 17, the firm is proposing to alter its name to Dhyaanii Artificial Intelligence Ltd. or Dhyaani Artificial Intelligence Ltd., or any other name that has been applied for and authorised by the Ministry of Corporate Affairs (MCA). The proposal is still awaiting approval at the next Extra-Ordinary General Meeting by the shareholders.