Ducon Infratechnologies announced that its Board considered and approved the same at its meeting held on February 25, 2022 bonus issue of equity shares in the ratio of 1:10. It has also approved the increase in the authorized share capital of the company and consequent change in the capital clause of the Memorandum of Association of the company.
“The Board recommended bonus issue of equity shares in the ratio of 1 (one) equity share for every 10 (ten) equity shares of Rs.1/- each held by the shareholders of the company, as per records. Through postal ballot Subject to shareholders’ approval,” the company informed in an exchange filing.
In addition, the Board has also approved the reservation of 1 equity share of Rs 1/- for every 10 equity shares of Rs 1/- to be acquired at the time of conversion of warrant holder to warrant holder.
A company usually 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.
Multibagger stock has gained more than 260% in the one-year period, compared to a 104% gain in the past six months alone. Shares of Ducon Infra have risen nearly 9% so far in 2022 (Year-to-date or YTD), while the benchmark BSE Sensex has lost over 5%.
Ducon Infratechnologies is a fossil fuel technology company that has harnessed diversified technologies and operates in various business sectors to provide solutions and meet challenges in the infrastructure, FGD systems and materials management sectors. In the infrastructure sector, Ducon provides complete FGD systems in thermal power plants, bulk material handling systems for alumina, fly ash handling systems and electrification projects.
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