SBC Exports Limited board approves 1:1 bonus issue, 1:10 stock split

The Board of Directors of SBC Exports Limited at its meeting held today on Friday, 7th January, 2022 have discussed and approved the increase in existing authorized share capital of the Company from Rs. 11,10,00,000/- (Rupees Eleven Crores Ten Lakhs only) divided into 1,11,00,000 (One Crore Eleven Lakhs) Equity Shares of Rs.10/- (Rupees Ten only) each to Rs. 22,00,00,000/- (Rupees Twenty Two Crores only) divided into 2,20,00,000 (Two Crores Twenty Lakh) Equity Shares of Rs. 10/- (Rupees Ten only) each and subsequent alteration to the Memorandum of Association of the Company.

The board approved alteration of Articles of Association of the Company in order to Issue of Bonus Shares by way of Capitalization of Reserves.

The board approved tssue of Equity Shares by the way of Bonus Issue in the ratio of 1:1 [i.e. 1 (One) fully paid up equity share for every 1 (One) equity share.

The board also approved proposal of Split / sub-division of Company's 1 (one) equity shares of face value of Rs. 10/- each into 10(ten) equity shares of face value of Re. 1/-each and subsequent alteration to the Memorandum of Association of the Company.

Shares of SBC Exports Ltd was last trading in BSE at Rs. 188.80 as compared to the previous close of Rs. 179.85. The total number of shares traded during the day was 49291 in over 394 trades.

The stock hit an intraday high of Rs. 188.80 and intraday low of 183.65. The net turnover during the day was Rs. 9289477.00.

Source : Equity Bulls

Keywords

SBCExports INE04AK01010 BonusIssue StockSplit