Bonus shares 2023: Small-cap stock Sunrise Efficient Marketing with a market cap of ₹128 crore has announced bonus shares for its eligible shareholders. the board of directors of the small-cap company in its meeting today considered and approve the proposal for issuance of bonus shares. The company board declared bonus shares in 1:1 ratio that means one bonus share for each shares held by the eligible shareholder. This means, after issuance of bonus shares, shareholding of eligible shareholders will get doubled after the bonus share issuance.
The small-cap company informed Indian stock market exchanges about the bonus shares citing, “The Board has recommended the issue of bonus equity shares in the ratio of
1:1 [ i.e., 1 (One) bonus equity shares of Rs. 10/- each for every 1 (One) fully paid-up equity shares held as on record date] subject to the approval of the shareholders in forthcoming Annual General Meeting of the Company in compliance with applicable provisions of the Companies Act, 2013 read with the rules notified and SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 and subsequent amendments thereto.”
The board of directors of the company also approved increase of authorised share capital citing, “In Compliance of regulation 30 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015, we wish to inform you that Board of Director in its meeting held on 03rd day of July, 2023 has inter alia considered and approved increase in the Authorized Share Capital of the Company from Rs. 5,00,00,000/- (Rupees Five Crore only), divided into 50,00,000 (Fifty Lakh) Equity Shares of Rs. 10/- (Rupees Ten) each to Rs. 10,00,00,000/- (Rupees Ten Crore only), divided into 1,00,00,000 (One Crore) Equity Shares of Rs. 10/- (Rupees ten) each ranking pari passu in all respect with the existing Equity Shares of the Company and consequential amendment in Memorandum of Association of the Company, subject to the approval of shareholders of the Company.”
Multibagger stock
Shares of Sunrise Efficient Marketing Ltd are one of the multibagger stocks that Indian stock market has produced in last one year. In last one year, this small-cap stock has risen from around ₹90 to ₹255 apiece levels, logging around 175 per cent rise in this period. This small-cap stock has given 50 per cent return in YTD whereas in last one month, it has remained in base building mode, losing around 2.50 per cent in this time.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it’s all here, just a click away! Login Now!
Source: Small-cap stock that has surged 175% in one year declares 1:1 bonus shares
