BackStock split and bonus this week: Four small-cap companies set record dates; check details
Gujarat Toolroom Ltd, K.P. Energy Ltd, Ascom Leasing & Investments Ltd, and Rhetan TMT Ltd set record dates this week for stock split and bonus.
PremiumThree small-cap companies, Gujarat Toolroom Ltd, K.P. Energy Ltd, and Rhetan TMT Ltd, have set record dates this week for the purpose of determining eligibility of shareholders for sub-division/split of face value of equity shares.
A stock split occurs when a company issues extra shares to its existing shareholders while reducing the face value of each share by a predetermined ratio. For instance, if the ratio is 1:5, the shareholders will receive 5 shares for every share they own.
Gujarat Toolroom, which manufactures molds for packaging of pharmaceuticals, food and beverages, caps and closures, writing tools, and oral hygiene products, has fixed Monday, March 6, as the record date to decide on the eligibility of shareholders entitled for sub-division/ split of each existing equity share in 1:10 ratio. The company has split the face value of its shares from Rs 10 to Rs 1.
The stock will turn ex-split on Monday, March 6.
K.P. Energy, a company that provides complete solutions of wind projects, has fixed Thursday, March 9, as the record date to decide on the eligibility of shareholders entitled for sub-division/ split of each existing equity share having face value of Rs 10 each into 2 equity shares having face value of Rs 5 each fully paid-up, i.e 1:2 ratio.
The ex-split date for the stock is Thursday, March 9.
Rhetan TMT, which is engaged in manufacturing of TMT bars and round bars, has fixed Friday, March 10, as the record date to decide on the eligibility of shareholders entitled for sub-division/ split of each existing equity share in the 1:10 ratio. The company has split the face value of its shares from Rs 10 to Rs 1.
The ex-split date for the stock is Thursday, March 9.
Bonus
Two small cap companies, Ascom Leasing & Investments Ltd and Rhetan TMT Ltd, which recommended bonus issue of equity shares recently, have set their record dates this week.
Bonus shares are additional shares that a company grants to its existing shareholders. The basic tenet of bonus shares is that they increase the number of shares issued while maintaining a fixed ratio of shares held to shares outstanding.
So, 1:1 ratio means a shareholder will receive one share for every share she/he currently owns. For instance, if a person has 10 shares, she/he will receive 10 more. These shares are not purchased by the stockholders at any cost.
Also Read: Explainer | What is a Statutory Bonus?
Ascom Leasing & Investments, which operates as a non-banking financial company, has fixed Monday, March 6, as the record date for the purpose of determining the members who shall be entitled for allotment of bonus equity shares in the ratio of 1:2. The board has approved the issuance of 1 bonus share for every 2 shares held by the company's equity shareholders as of the record date.
The company's ex-bonus date is the same as the record date.
Rhetan TMT has fixed Friday, March 10, as the record date for the purpose of determining the members who shall be entitled for allotment of bonus equity shares in the ratio of 11:4. The board has approved the issuance of 11 bonus shares for every 4 shares held by the company's equity shareholders as of the record date.
The company's ex-bonus date is the same as the record date.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
