1:1 Bonus Shares: Thursday, September 12 - Record Date; Buy Apiece For 1 Free Share?

In 2015, Bigbloc Construction Limited was established. The company's operations involve producing AAC (Aerated Autoclave Concrete) bricks and building blocks, which are sold under the NXTBLOC brand. With a current capacity of 10,75,000 m3 p.a. capacity, the firm serves a number of well-known clients, including Shapoorji Pallonji, Mahindra, Lodha, HDIL (Housing Development and Infrastructure Limited), Regency Nirman, Larsen & Toubro, and many more major construction enterprises of Maharashtra. BigBloc runs four AAC plants: the first is in Wada, Maharashtra; the second is in Umargaon District, Valsad, Gujarat, the third is in Kapadvanj, District Kheda, Gujarat and the fourth is in Kheda.

Bigbloc Construction Bonus Shares

"The Board of Directors at its meeting held on Friday, July 19, 2024, recommended Bonus issue of equity shares in the proportion of 1:1 i.e. 1 (One) new fully paid-up equity share of Rs. 2/- (Rupees Two) each for every 1 (One) existing fully paid-up equity share of Rs. 2/- (Rupees Two) each held by the shareholders of the Company as on the Record date, subject to approval of shareholders. With reference to the captioned subject matter, for the purpose of ascertaining the names of equity shareholders entitled to bonus shares, the Board of Directors has fixed Thursday, September 12, 2024 as the Record date pursuant to Reg. 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Bonus shares shall be allotted to the equity shareholders of the Company whose names appear in the records of the Depositories as Beneficial owners, as on the Record Date," said Bigbloc Construction in a stock exchange filing.

Bigbloc Construction Bonus Shares Allotment Date

"The bonus issue is aimed at rewarding existing shareholders, enhance liquidity, and expand the shareholder base. Free reserves of Rs. 28.31 crore will be utilized for the Bonus Issue. Subject to obtaining necessary approvals, the bonus shares shall be credited within 2 months from the date of the Board approval i.e. on or before September 18, 2024," the company said in a statement.

Bigbloc Construction Upcoming Board Meeting

"Pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform you that Meeting Serial No.6/2024-25 of the Board of Directors of the Company will be held on Friday, 13th September, 2024 at 11:00 A.M. at Registered Office of the Company, inter alia, to transact the following item of business: 1. To consider and approve the allotment of fully paid-up bonus equity shares of face value of Rs 2/- (Rupees Two Only) (7,07,87,875 Equity Shares) to the Members of the Company in the proportion of 1:1 i.e., 1 (One) bonus share for every 1 (One) equity share of face value of Rs 2/- (Rupees Two Only) each, held in the Company. 2. Any other business with the permission of the Chairperson," the company informed stock exchanges on 09/09/2024.

Bigbloc Construction Share Price Target

"BigBloc Construction stock price is slightly bullish on the Daily charts with strong support at 242. A Daily close above resistance of 262.5 could lead to a target of 295 in the near term," said A R Ramachandran, Independent Research Analyst.

Disclaimer

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