RedTape Limited, a leading name in the market, announced several significant updates following its Board Meeting on December 26, 2024. The company declared an interim dividend of ₹2 per equity share for the financial year 2024-25, with January 3, 2024, set as the record date for determining shareholder entitlement.
Additionally, the Board proposed an increase in authorized share capital from ₹30.02 crore to ₹112.01 crore to accommodate future growth and shareholder benefits. This includes the creation of 40.99 crore additional equity shares, subject to member approval.
In a landmark decision, the Board approved a bonus share issue at a ratio of 3:1, where shareholders will receive three fully paid equity shares for every one share held. This initiative, drawing from the company’s free reserves, underscores REDTAPE’s strong financial position, with ₹331.31 crore in free reserves as of March 31, 2024. The post-bonus paid-up capital is projected to reach ₹110.56 crore, significantly increasing shareholder equity.
RedTape shares opened today at ₹877.95, reached a high of ₹914.00, and a low of ₹871.40. The stock’s 52-week high stands at ₹980.00, while its 52-week low is ₹457.70.
As of 10:56 pm, RedTape shares were trading 4.24% higher at Rs 903.90 on the NSE.
