7:24 Bonus Issue Alert: THIS Penny Stock Under Rs. 10 Announces Record Date; Check If You Own?

Penny stock Jonjua Overseas is now back in focus as the record date for its 7:24 bonus share issue approaches soon. The company has fixed September 4th as the record date to determine the shareholder eligibility.

As per the company's exchange filing, "investors will receive 7 additional fully paid-up equity shares for every 24 shares held on the record date, subject to the applicable terms and regulatory approvals."

Jonjua Overseas 7:24 Bonus Issue

According to the company's regulatory filing, Jonjua Overseas will issue 79,55,966 bonus equity shares. A 7:24 bonus issue means shareholders will receive 7 additional shares for every 24 shares they hold on the record date.

For instance, an investor holding 240 Jonjua Overseas shares would be entitled to 70 bonus shares, taking the total holding to 310 shares
However, bonus shares should not be viewed as free gains. Although the number of shares increases, the share price is generally adjusted proportionately after the bonus issue. Therefore, the bonus issue does not automatically increase the total value of an investor's holding.

The bonus shares are expected to become available for trading from September 8, subject to the necessary approvals, including approval from the BSE and compliance with applicable SEBI requirements.

Jonjua Overseas Share Price Performance

Jonjua Overseas, which trades in the penny-stock segment with its share price below Rs. 10, has seen mixed performance. At the end of today's trading Jonjua Overseas shares closed at Rs. 4.30 apiece on the NSE. The stock has gained more than 9.41% in the past one month, while it is up over 33% in six months.

However, the stock has declined around 44% over the past year. The stocks market capitalization stands at 11.73 crore.

About Jonjua Overseas

Jonjua Overseas Limited is an Indian multi-faceted company listed on the BSE SME platform. The company was founded in 1993 and operates as a knowledge process outsourcing (KPO) firm providing legal, accounting, and cross-border marketing services, alongside ventures in agriculture (Jonjua Agro) and aviation startups (Jonjua Air).