FSN E-Commerce Ventures Limited announces 5:1 bonus issue

The Board of directors of FSN E-Commerce Ventures Limited at its Meeting held on October 03, 2022, has approved the re-classification of the Authorized Share Capital from ₹ 325 Crore comprising of 275 Crore Equity Shares of ₹ 1/- each and 50 Crore Preference Shares of ₹ 1/- each to ₹ 325 Crore comprising of 325 Crore Equity Shares of ₹ 1/- each and consequent amendment to the 5th Clause of the Memorandum of Association of the Company, subject to shareholders' approval by way of postal ballot.

The board approved Bonus Issue of Equity Shares in the proportion 5 (Five) fully paid-up Equity Share of ₹ 1/- each for every 1 (One) fully paid-up Equity Shares of ₹ 1/- each held by the shareholders of the Company as on the record date, subject to shareholders' approval by way of postal ballot.

The board has fixed Thursday, November 03, 2022, as the record date for the purpose of determining members eligible for Bonus Equity Shares.

Source : Equity Bulls

Keywords

FSNECommerceVentures Nykaa BonusIssue 5For1