1:3 Bonus Share: Penny Stock Approves Allotment Of Over 8.6 Cr Bonus Equity Shares

Small cap company engaged in textile sector Axita Cotton Ltd on Monday issued an update on allotment of bonus equity shares to its shareholders. Last trading price of Axita Cotton Ltd shares on BSE is Rs 17.05 per share with decline of 1.56% in trade today. Earlier this year, Axita Cotton had recommended 1:3 bonus share and revised the record date to September 20, 2024 from September 16, 2024. It had also recommended 0.10 final dividend and shares traded ex-dividend on August 28, 2024.

Axita Cotton shares gained 540% in last 3-years and declined 15% year-to-date. When it comes to bulk deal, the latest bulk deal took place on September 20, 2024 on BSE. According to reports, 1,642,638 shares were traded at an average price of Rs 17.66. Check key details below:

Axita Cotton Gives Update On Bonus Allotment: As per the exchange filing of Axita Cotton dated September 23, 2024, "Board of Directors of the Company, at its meeting held today i.e., Monday, September 23, 2024, has approved the Allotment of 8,68,94,493 (Eight Crore Sixty Eight Lakh Ninety Four Thousand Four Hundred Ninety Three) Equity Shares of Rs. 1 each as fully paid-up Bonus Equity Shares, in the ratio of 1:3 i.e.: One (1) Bonus Equity Shares of Rs. 1 each for every Three (3) Equity Shares held, to eligible Members whose names appeared in the Register of Members / list of Beneficial Owners provided by the Depositories / PTA as on Friday, September 20, 2024 being the record date fixed for this purpose."

Axita Cotton Shares Performance & Return: The 52-week high price of Axita Cotton shares on BSE is Rs 26.54 per share (09/01/2024) and 52-week low price is Rs 14.54 per share (as on 26/10/2023), respectively. Axita Cotton shares declined over 7% in last 1-month, rallied 11% in last 1-year, fell over 2% in last 2-years, and delivered return of 946% in last 5-years.

About: It was formed to start business of production and trading of Seed cotton ("Kapas"), Cotton Seed, Cotton Seed Oil, Cotton cake etc and for which land admeasuring area of 5708 Square Meters was acquired at Chattral, Kadi Road, Mehsana. It was incorporated on July 16, 2013.

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