Torrent Pharmaceuticals Ltd recommends 1:1 bonus issue

The Board of directors of Torrent Pharmaceuticals Ltd has approved / recommended, issue of Bonus shares in the ratio of 1:1 i.e. one equity share for each fully paid up equity share held as on record date fixed for the purpose. Consequent to the bonus issue, the total paid up share capital will be Rs. 169.22 Crores from the existing Rs. 84.62 Crores. The bonus issue of equity shares is subject to the approval of the members through Postal Ballot and any other applicable statutory and regulatory approvals, as may be required. The Company will inform in due course the Record date for determining entitlement of the shareholders to receive Bonus Shares.

The Bonus shares once allotted shall rank pari-passu in all respects and cany the same rights of the existing Equity Shares and shall be entitled to participate in full in any dividend and other corporate action, recommended and declared after the issue and allotment of such Bonus Shares.

Shares of Torrent Pharmaceuticals Limited was last trading in BSE at Rs. 2634.55 as compared to the previous close of Rs. 2592.50. The total number of shares traded during the day was 3457 in over 818 trades.

The stock hit an intraday high of Rs. 2646.65 and intraday low of 2591.80. The net turnover during the day was Rs. 9071512.00.

Source : Equity Bulls

Keywords

TorrentPharmaceuticals INE685A01028 BonusIssue 1For1