Mid-Cap IT Stock Announces 1:3 Bonus Issue After Giving 318% Return

Sonata Software Ltd came into existence in the year 1994 and it is a mid-cap company with a market capitalization of 7,335 crore. The IT software company offers IT consulting and software services globally. The board of directors of the company has announced bonus share in the ratio of 1:3. Check key details below:

1. Sonata Software Ltd Approves 1:3 Bonus Share Issue

The company board of directors on July 25, 2022 said that they have considered, approved, and recommended bonus share issue in the ratio of 1:3 which means that the shareholders of the company holding 3 equity shares will get one equity share.

According to the BSE filing the board of directors stated, "The Board considered, approved and recommended a bonus issue of 1 (one) equity share for every 3 (three) equity shares held by the Shareholders of the Company as on the record date. The bonus issue of equity shares will be subject to approval by the Shareholders through Postal Ballot, and any other applicable statutory and regulatory approvals. The Bonus shares once allotted shall rank pari-passu in all respects and carry the same rights as the existing Equity Shares and shall be entitled to participate in full in any dividend and other corporate action, recommended and declared after the new equity shares are allotted. The details pertaining to the Bonus issue of equity shares as per Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is provided in Annexure II."

Meanwhile, the Board of Directors of the Company in the meeting held today i.e. 25th July, 2022 has accorded the in principle approval for merger of subsidiary of Sonata Software North America, Inc. viz. Sopris Systems LLC, with Sonata Software North America, Inc., wholly owned subsidiary of the Company.

2. Sonata Software Ltd Stock Outlook

The current market price of the stock is Rs 700 apiece with a decline of 0.16% in trading today. The 52-week high is Rs 1030 apiece and 52-week low is Rs 610 apiece. The stock has given a return of 318% in 5 years and 111% in 1 year.

3. About Sonata Software Ltd

It has emerged a trusted partner of world leaders in the retail, manufacturing, distribution, travel, services and software industries. Sonata's software portfolio includes the Brick & Click Retail Platform, Modern Distribution Platform, Rezopia Digital Travel Platform, Kartopia E-commerce Platform, Halosys enterprise development automation Platform, CTRM Commodity Trading and Risk Management Platform and KODO - AI Powered Customer Experience (CX) Platform. Sonata's Platformation approach ensures services built on Microsoft Dynamics 365, Microsoft Azure, AWS, Cloud Engineering and Managed Services deliver on the Platformation promise, according to its official website.