2 Stocks That Have Announced Bonus Share Issue

Updated: Saturday, June 11, 2022, 10:51 [IST]

Bonus share are the shares that the shareholders receive at no additional cost as per the stipulated proportion. In bonus share issuance typically, free reserves are moved to equity and then from it fresh shares are issued. So, here are 2 small cap companies that have announced bonus share issuance

Relicab Cable Manufacturing

Founded in the year 1992, known as "Relicab Cable Manufacturing Limited" commendable manufacturer and supplier of Industrial Cables.

Positioned as a leading brand, Relicab Cable Mfg. Ltd. has occupied a significant market share in the sphere of Wires and Cables.

In its BSE board meeting, the board has announced issue of Bonus shares in the ratio of 74:100 (seventy-four) fully paid-up equity shares for every 100 (hundred) existing fully paid-up equity share held by the shareholders, subject to the approval of the shareholders of the Company.

The shares of the company last closed higher by over 8% at Rs. 53 per share.

Escorp AMC

This is another small cap services company offering a slew of financial services. The company in its meeting held on June 10, 2022 announced the following:

Increase in Authorized Share Capital of the Company from 7,00,00,000 Equity Shares of Rs/ 10/- each to12,00,00,000 divided into 1,20,00,000 (One Crore Twenty Lakhs) Equity Shares Equity Shares of = 10/- (Rupees Ten Only) each by creation of additional 50,00,000 (Fifty Lakhs) Equity Shares of = 10/-
(Rupees Ten Only) each and subsequent alteration to the Memorandum of Association of the Company, subject to the approval of the shareholders of the
Company; Issue of Bonus shares in the ratio of 2:3 (3 (three) fully paid-up equity shares for every 2 (Two) existing fully paid-up equity share held by the shareholders), subject to the approval of the shareholders of the Company; Migration of Listing/Trading of Company's present listing from SME Platform of BSE Limited to the Main Board of BSE Limited as well as on Main Board of NSE Limited interms of Chapter IX of SEB] (ICDR) Regulations, 2018 subject to approval of the shareholders of the Company, BSE Limited, National Stock Exchange of India Limited, or such other authorities; Approval of Postal Ballot Notice; and Appointment of Scrutiniser for scrutinising the Postal Ballot process in a fair and transparent manner.