Stock market investors should keep an eye on the shares of GMM Pfaudler and Uraavi T and Wedge Lamps as these shares will trade ex-bonus tomorrow. Since the record date for issuance of bonus shares is set for July 12 for both stocks, these stocks will become ex-bonus on July 11—the last day to buy them to qualify for the bonus shares—and investors who buy the above. Stocks declared after the ex-date will not be eligible for bonus shares.
GMM Pfaudler
The Board, in a stock exchange filing, said that “The Company has informed that the shareholders have approved the issue of Bonus Equity Shares in the ratio of 2:1, i.e. 2 (two) equity shares by way of general resolution through postal ballot.” Shares whose face value was INR 2/- for every 1 (one) equity share having face value INR 2/- is held by the shareholders of each company. In this regard, please note that SEBI (Listing Obligation and Disclosure) Requirements) Regulations, 2015, it is hereby notified that Tuesday, the 12th July, 2022 has been fixed as the record date for the purpose. Shareholders who will be eligible for allotment of Bonus Equity Shares Further, the meeting of the Allotment Committee of the Board of Directors of the Company is scheduled to be held on Thursday, 14th July, 2022 to, inter alia, consider the allocation of Bonus Equity Shares to the eligible shareholders.
Shares rose 0.42 per cent from their previous close 4161.30 and closed at 4,178.80 on Friday. The stock has lost 11.65% of its value over the past year, and it has fallen 15.01 percent of its value YTD in 2022.
urvi tea and wedge lamp
In its postal ballot notice, the company has mentioned that “taking into account the current financial position of the company and in order to capitalize on the Securities Premium Account and/or Free Reserves and to rationalize the capital structure of the company, the Board of Directors on Thursday , in its meeting held on 26th May, 2022, it has been proposed to issue Bonus Equity Shares in the ratio of 1:1 i.e. 1 (one) Bonus Shares of Rs.10/- (Rupees Ten) each of 1 (One) Full paid-up equity shares as on the record date to the shareholders as may be decided by the Board of Directors. The existing issued, subscribed and paid-up capital of the Company shall be enhanced by a capitalization of Rs. 5,50,00,000 (Rupees five crores) and fifty lakhs only) for the purpose of issuance of 55,00,000 (fifty lakhs only) from the securities premium account, general reserve and/or any other permitted reserve/surplus of the company (fifty lakhs only) to meet the bonus equity shares of face value of Rs. 10/- (Rupees ten).”
As per the data available on Trendline, July 12, 2022 has been set as the record date for the bonus issue and the stock will trade ex-bonus on July 11, 2022.