The Board of Emkay Exim (India) Limited today approved and recommended bonus issue in the ratio of 2:1, which means that for every share owned by an individual in the company, he/she will get two additional shares.
Shares of Emkay Exim (India) closed at 4.98% on Tuesday 208.50 on BSE.
The record date for issuance of bonus has not been notified yet. A company issues bonus shares to its shareholders with the aim of increasing the liquidity of the stock as well as reducing its stock price to make it economical for investors. Bonus shares are fully paid-up additional shares issued by a company to its existing shareholders.
When a firm issues bonus shares, its shareholders do not incur any additional costs to receive them. The number of bonus shares you will receive depends on the number of shares in the firm that you already hold.
All the shareholders who hold shares of the firm before the ex-date fixed by the firm are eligible for bonus shares.
MK Exim said in a statement that the bonus issue is on record data, subject to members’ approval and other approvals, consents and conditions.
The board has also approved to increase the share capital of the company from from 10 crores 30 crore, the company informed the stock exchanges.
MK Exim (India) Limited is a growth oriented business enterprise with operations and expansion projects in multiple domains. They have manufacturing facilities for Fabrics, Readymade Garments and Jewellery; and are approved suppliers to relief programs.
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