Gretex Corporate Services Ltd recommends 8:1 bonus issue

The Board of Directors of Gretex Corporate Services Limited at its meeting held today i.e., September 02, 2022 at 6:00 p.m. have approved and recommended issue of 8 Bonus Equity Shares of Rs. 10/- each for every 1 fully Paid-up Equity Shares held as on the record date to be decided. The bonus issue will be upto 90,98,760 (Ninety Lakhs Ninety-Eight Thousand Seven Hundred and Sixty Only) equity shares of Rs. 10/- each as bonus shares of an aggregate nominal value upto Rs. 9,09,87,600/- (Rupees Nine Crore Nine Lakh and Eighty-Seven Thousand and Six Hundred Only), as bonus shares to the shareholders out of the Securities Premium Account of the company for distribution among the holders of existing fully paid equity shares of Rs. 10/- each of the company.

The board also recommended the increase in Authorized Share Capital of the company from Rs. 1,20,00,000/- (One Crore Twenty Lakhs Only ) divided into 12,00,000 (Twelve Lakhs Only) Equity Shares of Rs. 10/- (Rupees Ten Only) each to Rs. 11,00,00,000/- (Rupees Eleven Crores Only) divided into 1,10,00,000 (One Crore Ten Lakhs Only) Equity Shares of Rs. 10/- (Rupees Ten Only) each ranking pari passu with the existing Equity Shares of the Company.

The Bonus Equity Shares once allotted shall rank pari passu in all respects and carry the same rights as the existing Equity Shares and shall be entitled to participate in full in any dividend and other corporate action, recommended and declared after the new equity shares are allotted.

Source : Equity Bulls

Keywords

GretexCorporateServices BonusIssue 8For1