Xpro India announced that its board in its meeting on Wednesday recommended issuance of bonus equity shares in the ratio of 1:2. The company said that the record date for calculation of eligible shareholders for receiving the bonus shares will be communicated separately.
“The issue recommended bonus share in the ratio of 1 (one) equity share of 10/- each for 2 (two) existing fully paid-up equity shares 10/- held by the shareholders of the Company on each record date, subject to the approval of the shareholders of the Company at the ensuing Annual General Meeting and other applicable statutory and regulatory approvals; As may be required,” Xpro India informed in an exchange filing.
In addition, the Board has also approved the reservation of one equity share of 10- For every two equity shares of 10 each, after the exercise of the option by the warrant holders, to convert the outstanding 19,68,000 convertible warrants into fully paid-up equity shares as on March 31, 2022.
The board has also recommended a dividend of 2.00 per equity share 10/- every for the financial year ended 31st March, 2A22, subject to the approval of the shareholders of the company at the ensuing AGM.
Xpro India Limited is part of the Birla Group, a conglomerate of multiple divisions. It is a diversified multi-departmental, multi-local company with a strong commitment to the polymer processing industry. Shares of Xpro India have risen by over 640% in a span of one year while multibagger stock Up about 13% so far in 2022 (YTD).