A small cap corporation with a market valuation of 2,641.73 crore in the metal industry is Shivalik Bimetal Controls Ltd. Shivalik Bimetal Controls Limited is a company that specializes in assembling materials using a variety of techniques, including resistance welding, solder reflow, diffusion bonding and bonding/cladding. Electron beam welded materials with thermostatic bimetals, clad metals, spring rolled stainless steels, multi-gauge and multi-material strips, and thermostatic edge-welded strips are all part of the company’s current project for a wide range of industries. The Corporation has made public on record date to establish shareholders’ eligibility for 2:1 bonus shares.
The company said in a regulatory filing that “this is in continuation of our letter dated August 29, 2022 notifying the issue of bonus shares, subject to the approval of the shareholders. We would like to inform you that as per Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has fixed Thursday, 13th October, 2022 as the record date, so that eligible shareholders will be entitled to receive Bonus Shares. can be determined for.
The firm announced on August 29, 2022, that the Board of Directors had authorized the issue of bonus shares in the ratio of 2:1, meaning there would be a bonus equity share of Rs. 2 for every two fully paid-up equity shares held as on the record date.
Bonus share statement of Shivalik Bimetal Controls as per data available on stock exchange filings
The total number of securities proposed to be issued or the total amount for which the securities will be issued (approximately): Divided into 19201400 equity shares of Rs.3,84,02,800/- Rs. 2/- each.
Whether the bonus is out of the free reserve created out of profit or from the share premium account: The Bonus Shares will be issued from the Company’s Free Reserves and Securities Premium Account available till March 31, 2022.
Bonus Ratio: 1 (a) Equity Share 2/- for every 2 (two) existing equity shares of Rs 2/- each held as on a record date.
Pre-Bonus Paid-up Share Capital is Rs. 7,68,05,600/- divided into 3,84,02,800 equity shares of Rs. 2/- each.
Paid-up Share Capital After Bonus will be Rs. 11,52,08,400/- divided into 57604200 equity shares of Rs. 2/- each.
Free Reserve and/or Share Premium required to apply Bonus Issue: Free reserves and/or share premium of Rs. 3,84,02,800/- is required to apply the bonus issue.
Free reserves available for capitalization and/or share premium and the date on which such balance is available: As on March 31, 2022, the total amount of Free Reserve Funds and Securities Premium Account amounted to Rs. 17,949.83 lakh.
Estimated date by which such bonus shares will be credited / remitted: Within 2 months from the date of approval of the Board i.e. by October 28, 2022.
Shares of Shivalik Bimetal Controls on NSE today closed at Rs. 686.00 a piece, down 3.63 per cent from the previous close of Rs. 711.85. There were a total of 177,448 shares in trading today, higher than the 20-day average volume of 106,262 shares. The stock has given a multibagger return of 453.00% in the last five years and a multibagger return of 1272.88% during the last three years. The stock has generated a multibagger return of 150.59% over the past year, and on a YTD basis, it has climbed 72.73% so far in 2022. For the quarter ended June, the company recorded promoter shareholding of 60.61%, FII holding 0.05%, DII holding 0.16%, and public holding of 39.18%.
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