This Small Cap Agro-chemicals Entity Announces 2:1 Bonus Share Issue: Check Details

The small cap pesticides and ago-chemicals firm Insecticides entity in its board meet held today announced bonus share issue. Here are the relevant details:

Bonus share issuance: The company in its board meet held today i.e. August 20, 2022 as per the filing "considered and recommended issue of bonus equity shares in the ratio of 2 new equity shares for every 1 existing equity share held, subject to approval by the shareholders and any other regulatory approvals. The credit dispatch of said bonus equity shares, as the case may be, shall be completed within two months from the date of approval of the Board i.e. latest by October 19,2022.

This Small Cap Agro-chemicals Entity Announces 2:1 Bonus Share Issue: Check Details

Increase in authorised share capital: The company approved increase in authorised share capital from Rs. 25 crore to Rs. 35 crore.

Number of bonus shares to be issued or the total amount for which the securities will be issued and other details: As per the details filed, the company will issue 98,65,946 equity shares of Rs. 10 each amounting to Rs. 9,86,59,460. Furthermore, the Bonus Equity shares will be issued by capitalizing a sum not exceeding Rs. 9,86,59,460 out of sum standing to the credit of Securities
Premium account of the Company.

About the company: Insecticides (India) Limited is a agrochemicals company. The Company is engaged in the manufacturing activities of agro chemicals, pesticides and technical products for agriculture purposes. The firm's scrip last closed at Rs. 1013.75 per share on the NSE. The stock is trading close to its 52-week high of Rs. 1067.9.

GoodReturns.in