Varun Beverages started trading its ex-bonus shares on Monday, a day earlier than the expected record date of bonus shares issues. It is important to note that Varun Beverages shares were trading a per cent lower than the issued rupees 726 a piece at Bombay Stock Exchange (BSE). The bonus shares were announced to be made public. By the Board of Directors of the Company at a 1:2 ratio.
Varun Beverages, produces, bottles and distributes beverages, it has been named as the second biggest company responsible for bottling Pepsi Co.’s beverages in the world outside the United States. It has also been incorporated as the largest Cap company (operating at a market cap of 47228.75 crores).
The bonus shares that the company is currently dealing in are taken out of the company’s premium accounts. Which were issued on December 31, 2021. Bonus shares are those fully paid additional shares issued by the company to its existing shareholders.
“The board of directors has considered and approved the bonus issue of equity shares. In the proportion of 1 (One) equity share of ₹10/- each for every 2 (Two) equity shares of ₹10/-. Each held by the shareholders of the company as on the record date. Subject to the approval of shareholders through postal ballot i.e. in compliance with the applicable laws”. The company executives had informed in an exchange filing in April.
Meanwhile, due to volume growth and higher sales, Varun Beverages‘ net profit for the quarter ending March 2022 jumped 96 per cent to 254 crore. From 129 crore the previous year. Its sales increased by 26% to 2,867.5 crores in the quarter, compared to 2,270 crores the previous year.
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