Technopack Polymers Limited, a leading player in the polymer industry, announced a significant decision taken during its Board of Directors meeting on December 4, 2024. The company has approved a 1:1 bonus share issue, marking an important move to reward its shareholders. For every one equity share held, shareholders will receive one fully paid-up equity share of ₹10 face value. The bonus shares will be issued out of the company’s securities premium account and retained earnings, pending shareholder approval.
Additionally, the company has approved an increase in its authorized share capital from ₹7 crore to ₹10.8 crore. The move aligns with its plans to strengthen its capital structure to support future growth.
The pre-bonus issue paid-up share capital of the company stood at ₹5.4 crore, consisting of 54 lakh equity shares. Post-bonus issue, the paid-up share capital will double to ₹10.8 crore, comprising 1.08 crore equity shares. The bonus shares are expected to be credited or dispatched within two months from the Board’s approval, i.e., by February 2, 2025.
This development signifies Technopack’s commitment to enhancing shareholder value and preparing for potential expansion in its operations.
