EFC (I) Limited has announced a 1:1 bonus share issue, increasing its total number of shares from 4,97,76,688 to 9,95,53,376. The bonus shares will be funded from securities premium, reserves, and retained earnings, with an increase in the company’s authorised share capital from Rs. 15 crores to Rs. 25 crores.
Key Highlights:
- 1:1 Bonus Share Issue: For every existing share, shareholders will receive one new fully paid-up equity share.
- Authorised Share Capital: Increased from Rs. 15 crores to Rs. 25 crores.
- Restated Articles of Association: Adopted as part of the process.
The record date for the bonus issue will be announced later, with shares expected to be credited/dispatched by February 26, 2025.
Bonus Issue Details:
- Source of Bonus Shares: Securities premium, general reserves, and retained earnings as of March 31, 2024.
- Bonus Ratio: 1 new share for every 1 existing share (1:1).
- Share Capital:
- Pre-bonus: 4,97,76,688 shares of Rs. 2 each (Rs. 9,95,53,376).
- Post-bonus: 9,95,53,376 shares of Rs. 2 each (Rs. 19,91,06,752).
- Free Reserves/Share Premium for Bonus Issue: Rs. 9,95,53,376 required for the bonus.
- Shares Dispatch Date: On or before February 26, 2025.
In the meantime, EFC (I) shares opened today at Rs 669.70, reaching a high of Rs 684.90 and a low of Rs 663.50. Over the past 52 weeks, the stock has fluctuated between a high of Rs 716.95 and a low of Rs 303.10.
TOPICS:
EFC (I)