Rhetan TMT Limited board approves stock split, bonus issue

The Board of Directors of Rhetan TMT Limited in its meeting held today i.e. on Wednesday, 21st December, 2022 from 11:30 A.M. to 12:05 P.M. at the Registered Office of the Company, has considered the following, subject to the approval of Shareholders in ensuing Extra Ordinary General Meeting.

The board approved alteration in Capital of the Company by Split/Sub-division of 1 (One) Equity Share of the Company having face value of Rs. 10/- each into 10 (Ten) Equity Shares of the Company having face value of Re. 1/- each.

The board considered and approved increasing the Authorized Share Capital of the Company from Rs. 21,50,00,000/- (Rupees Twenty One Crore Fifty Lakhs only), divided into 21500000 (Two Crore Fifteen Lakh) Equity Shares of Rs. 10/- (Rupees Ten) each to Rs. 80,00,00,000/- (Rupees Eighty Crore only), divided into 80000000 (Eight Crore) Equity Shares of Rs. 10/- (Rupees Ten) each.

The board approved issue of 11 (Eleven) Bonus Shares for every 4 (four) Equity Shares held by the Equity Shareholders of the Company as on 'Record Date'. The Bonus Issue of Equity Shares is subject to the approval of the shareholders and other applicable statutory and regulatory approvals, as may be required. The Company will intimate the 'Record Date' for determining eligible Shareholders entitled to receive bonus shares, in due course of time.

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

The Extra-Ordinary General Meeting (EOGM) of the Company is scheduled to be held on Friday, 13th January, 2023 at 12:00 P.M. at the Registered Office of the Company at ih Floor, Ashoka Chambers, Rasala Marg, Mithakhali, Ahmedabad - 380 006, Gujarat, India to consider the matters stated above and authorized the Directors to send the Notice of EOGM.

Shares of Rhetan TMT Limited was last trading in BSE at Rs. 451.50 as compared to the previous close of Rs. 451.00. The total number of shares traded during the day was 102000 in over 46 trades.

The stock hit an intraday high of Rs. 457.50 and intraday low of 440.25. The net turnover during the day was Rs. 46139000.00.

Source : Equity Bulls

Keywords

RhetanTMT INE0KKN01011 IronandSteel StockSplit 10For1 BonusIssue 11For4