Small-cap stock announced 1:2 bonus share. details here

inform the Indian Share Market Regarding bonus share issue, the Exchange, the company’s exchange filing says, “Recommendation for issue of fully paid bonus shares in the ratio of 1:2 i.e. 1 (one) equity share for every 2 (two) full of equity shares in kind 05/- each, subject to the approval of the shareholders of the company. The Company shall notify the shareholders in due time of the “Record Date” to determine the shareholders entitled to receive the Bonus Shares.”

The company also informed BSE that its board has approved raising of funds in the company by issuing convertible warrants on preferential basis. The company plans to raise the total amount 6,00,00,507/- by issuing convertible warrants at a cost of Rs.15,32,780 39.15/- each.

Shares of the company rose in deals this morning after the announcement of the bonus share issue. Share price of Alphalogic Techsys today opened with a gap of above and reached intraday high At the level of 45.90, reached close to 5 percent against Thursday’s close 43.75 per share level.

Alphalogic Techsys Limited also informed the Indian stock exchanges that the Board of Directors of the Company has also approved an increase in the Authorized Capital of the Company from the existing. 14 crore to 21 crore to facilitate fundraising and release of bonuses.

In Q1FY23, the Pune-based small-cap company has reported 64.5 per cent growth in quarter-on-quarter profit and revenue growth of around 20 per cent on a consolidated basis.

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