This stock recommends first bonus share of 8:1 post 1 year of its listing

This stock recommends first bonus share of 8:1 post 1 year of its listing

Gretex Corporate Services Ltd., a small-cap company with a market capitalization of Rs. 31 Cr., operates in the financial industry. One of the financial and consulting organisations in India, Gretex Corporate Service offers services in IPO, valuation, and corporate advisory. The initial public offering (IPO) of Gretex Corporate Services Ltd. began on July 27, 2021, and the issue closing date was Friday, July 30, 2021. The firm was recognised by BSE as the top volume performance for SME IPO for FY 2021 after it got listed on BSE SME on August 9, 2021. After a year of being listed, the company announced the 8:1 ratio of its first bonus share. The company has said in a regulatory filing that, the Board of Directors in its meeting held on 2nd September has “Recommended the increase in Authorized Share Capital of the company from Rs. 1,20,00,000/- (One Crore Twenty Lakhs Only ) divided into 12,00,000 (Twelve Lakhs Only) Equity Shares of Rs. 10/- (Rupees Ten Only) each to Rs. 11,00,00,000/- (Rupees Eleven Crores Only) divided into 1,10,00,000 (One Crore Ten Lakhs Only) Equity Shares of Rs. 10/- (Rupees Ten Only) each ranking pari passu with the existing Equity Shares of the Company. Recommended for issue upto 90,98,760 (Ninety Lakhs Ninety-Eight Thousand Seven Hundred and Sixty Only) equity shares of Rs. 10/- each as bonus shares of an aggregate nominal value upto Rs. 9,09,87,600/- (Rupees Nine Crore Nine Lakh and Eighty-Seven Thousand and Six Hundred Only), as bonus shares to the shareholders out of the Securities Premium Account of the company for distribution among the holders of existing fully paid equity shares of Rs. 10/- each of the company.”

Bonus share details of Gretex Corporate ServicesHere are the details of bonus shares that the company has highlighted in a regulatory filing Total number of securities proposed to be issued (approximately): 90,98,760 Equity Shares of Rs. 10/- each amounting to Rs. 9,09,87,600/- Whether bonus is out of free reserves created out of profits or share premium account: The Bonus Shares will be issued out of Securities Premium available as of March 31, 2022. Bonus ratio: 8 Bonus Equity Shares of Rs. 10/- each for every 1 fully Paid-up Equity Shares held as on the record date to be decided. The Bonus Equity 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. Pre- Bonus: Authorised Equity Share Capital of Rs. 1,20,00,000 /- having face value of Rs. 10 /- per share. Issued Equity Share Capital of Rs. 1,13,73,450/- having a face value of Rs. 10 /- per share. Paid-up Share Capital of Rs. 1,13,73,450/- having a face value of Rs. 10 /- per share. Post-Bonus Paid-up Share Capital expected to be around: around: Authorised Equity Share Capital of Rs. 11,00,00,000 /- having a face value of Rs. 10 /-per share. Issued Equity Share Capital of Rs. 10,23,61,050/- having a face value of Rs. 10 /- per share. Paid-up Share Capital of Rs. 10,23,61,050/- having a face value of Rs. 10 /- per share.
Free reserves and / or share premium required for implementing the bonus issue: Securities Premium of Rs. 9,09,87,600/- as on March 31, 2022. Free reserves and / or share premium available for capitalisation and the date as on which such balance is available: As on March 31, 2022, Securities Premium of Rs. 11,08,57,505/- Free Reserve of Rs. (6,68,541)/- Total: Rs. 11,01,88,964/-. Estimated date by which such bonus shares would be credited / dispatched: The Bonus Shares will be credited / dispatched within 60 days from the date of Board approval i.e., latest by October 31, 2022. The last closing price for the shares of Gretex Corporate Services was 274.30 apiece. Since its listing, the stock has gained 54.32%. In the last 1 year, the stock has surged 47.55% and on a YTD basis, the stock has climbed 32.64% so far in 2022.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint.
Download The Mint News App to get Daily Market Updates.

More
Less

Subscribe to Mint Newsletters * Enter a valid email * Thank you for subscribing to our newsletter.

Post your comment

.