1:1 Bonus Shares: Penny Stock Below Rs 20 To Trade Ex-Bonus On September 20; Do You Own?

Danube Industries, an IT hardware engineering company, will be in focus on Wednesday as the stock will trade ex-bonus for its bonus equity shares in the ratio of 1:1. The company will determine eligible shareholders for the bonus issue on this day.

As per the regulatory filing, the company fixed Wednesday, September 20, 2023, as the Record Date for the purpose of determining the names of Shareholders who shall be entitled for allotment of bonus equity shares in the ratio of 1 new fully paid-up equity shares of Rs. 2/- each for every 1 fully paid-up equity share held by the shareholders of the Company.

The company will issue 1:1 bonus shares by capitalising a sum not exceeding Rs 6 crore for the financial year 2022-23. Post the bonus issue, the paid-up share capital will be Rs 12 crore.

In FY23, the company held Rs 8.75 crore in its Securities Premium Account which will be sufficient for utilizing for the bonus issue. In the filing, Danuba said, The Bonus Shares so allotted shall rank pari-passu in all respects with the existing fully paid-up equity shares of the company.

Bonus shares are issued in a certain proportion only to the existing shareholders free of cost. Under this corporate action, new shares are issued at the existing Face Value of equity shares of the company. Hence, the face value remains the same post-bonus issue.

On BSE, Danuba Industries share price is at Rs 15.02 apiece. Its market cap is over Rs 45.06 crore.

Danube Industries is a leading computer peripherals provider based in Ahmedabad, India. It offers a wide range of high-quality products, including monitors, keyboards, mouse , and more.

The company also caters to POS systems, networking products such as wires and cables, P&L devices, circuits, and various parts, all available from Information Technology & Hardware division. In addition, the company strongly emphasises security and CCTV devices, providing anti-virus, firewall, CCTV, VDP, and an integrated navigation suite for vessels.