GNA Axles Ltd recommends 1:1 bonus issue

The Board of Directors of GNA AXLES LIMITED at its meeting held on Friday, 21st July 2023, have considered and recommended Issue of Bonus Shares in the ratio of 1:1, i.e. 1 (One) Equity Share of Rs. 10/- each for every 1 (One) Equity Share of Rs. 10/- each, held by the shareholders of the Company as on the record date, subject to the approval of shareholders to be obtained by Postal Ballot.

The board also approved increase in the Authorized Share Capital of the Company from existing Rs. 30.00 crore to Rs. 100.00 crore and consequent alteration in the Capital Clause of the Memorandum of Association of the Company, on account of issue of Bonus Shares of the Company, subject to the approval of shareholders to be obtained by Postal Ballot.

The Company has fixed Friday, August 11, 2023 as the Record Date for determining eligibility of the shareholders for issuance of Bonus Equity Share of the Company in the proportion of 1 (One) Equity Share of Rs. 10/- each for every 1 (One) existing Equity Shares of Rs. 10/- each, subject to the approval of shareholders which is being obtained through Postal Ballot.

Shares of GNA Axles Limited was last trading in BSE at Rs. 915.60 as compared to the previous close of Rs. 911.35. The total number of shares traded during the day was 3210 in over 196 trades.

The stock hit an intraday high of Rs. 918.80 and intraday low of 909.05. The net turnover during the day was Rs. 2934101.00.

Source : Equity Bulls

Keywords

GNAAxles INE934S01014 BonusIssue 1For1