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This Company Will Soon Be Issuing Bonus Shares In The Proportion Of 2:1: Check If You Own It


In a BSE filing on Tuesday (November 16, 2021), Indian Energy Exchange (IEX) said we would like to inform you that the Company has fixed Monday, December 06, 2021 as the 'Record Date', for the purpose of ascertaining the eligibility of shareholders entitled for issuance of Bonus Equity Shares of the Company in the proportion of 2 (Two) Equity Shares of Rs. 1/- each for every 1 (One) existing Equity Share of Rs. 1/- each, subject to the approval of shareholders which is being obtained through Postal Ballot.

This Company Will Soon Be Issuing Bonus Shares In The Proportion Of 2:1

This 2:1 bonus shares issue means that if you already own 1 share in the IEX scrip, you will be entitled to get 2 additional new shares. So, your total holding of shares in the company will be 3 shares instead of 1 share.

As per the company, bonus shares shall be issued out of the free reserves resulting from the company's profits as at the end of FY21. In the September ended quarter, the company's shares registered a massive surge of 72 percent, outpacing just 16 percent gains on the S&P BSE Power Index, while on a YTD basis the stock has registered gains of 255%.

In the just concluded September quarter, the company logged 69 percent YoY growth in standalone net profit at Rs. 78 crore. The company's revenue from operations also posted gains of 56 percent YoY to Rs. 109 crore.

Indian Energy Exchange is the country's first and premier energy marketplace. The company offers an automated and transparent trading platform for the physical delivery of electricity, renewables, and certificates. The company powered by advanced, intuitive and customer centric technology enables efficient price discovery and facilitates the ease of power procurement.

Read more about: bonus shares stocks to buy
Story first published: Tuesday, November 16, 2021, 23:13 [IST]
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