Gujarat Toolroom Limited (GTL) has announced a significant bonus issue, proposing the issuance of five new equity shares for every one existing equity share held by eligible shareholders. This move, approved at the Board meeting held on January 6, 2025, reflects the company’s strategy to capitalize on its strong reserves.
Key Highlights of the Bonus Issue:
- Bonus Ratio: 5:1 (Five new fully paid-up equity shares for each existing share).
- Record Date: January 3, 2025.
- Pre and Post Bonus Share Capital:
- Pre-bonus: ₹23.21 crore (23,20,65,630 equity shares of ₹1 each).
- Post-bonus: ₹139.24 crore (1,392,393,780 equity shares of ₹1 each).
- Reserves Capitalized:
- Required Reserves: ₹11,603.28 lakh.
- Available Reserves:
- Securities Premium: ₹17,689.59 lakh.
- Free Reserves: ₹5,950.20 lakh.
- Estimated Distribution Date: On or before March 1, 2025.
Additionally, the Board has recommended increasing the company’s authorized share capital from ₹100 crore to ₹140 crore, further aligning with its growth strategy.
As of 10:38 am the shares were trading 4.95% lower at ₹18.04 on NSE.
TOPICS:
Gujarat Toolroom