look news india
Bonus Alert: Shares of Monarch Networth Capital Limited will be in focus during trading tomorrow, Monday. There is a big advertisement behind this. Actually, the company has announced the issuance of bonus shares in the ratio of 1:1 on Sunday, July 28. This means that on the record date, shareholders will be given one share free on one share. The company has not yet announced the record date. The special thing is that on Friday, the company's shares closed at Rs 618, up 2 per cent.
first time bonus shares
It is worth noting that the company has announced bonus shares for its shareholders for the first time. The company has never split its stock. But the company has announced dividend for its shareholders. Let us tell you that companies issue bonus shares to redeem their free reserves, increase earnings per share (EPS) and paid-up capital as well as reduce reserves. These shares are issued to shareholders at no additional cost and are therefore also considered free shares. Importantly, only those investors will be eligible for bonus shares who buy shares before the ex-date. If an investor buys shares on or after the ex-date, he will not be eligible for bonus shares.
what the company said
In the exchange filing, the company said- The equity shareholders of the company are allowed to issue bonus shares in the ratio of 1:1. The company has raised equity funds of Rs 300 crore. The filing said that the board of the company has approved increasing the registered share capital from the current Rs 65 crore to Rs 100 crore.
company
Shares of Monarch Networth Capital Limited closed 1.76 per cent higher at Rs 618 on NSE on Friday. The market cap of the company at the current level is Rs 2,074 crore. The stock has gained 40 per cent so far in 2024 and 90 per cent in 12 months.