Sunshine Capital Limited board approves stock split, bonus issue

The Board of Directors of Sunshine Capital Limited in their meeting held today i.e. 12th January, 2024 which commenced at 05:00 P.M. and concluded at 7:10 P.M. has considered and approved the proposed Raising of fund from 413 crore to Rs. 500 Crores by the way of Loan, from various corporate entities.

The board approved proposal to withdraw the Rights Issue of equity shares of the Company.

The board approved stock split (sub-division of equity shares) of Company's 1 (One) equity share of face value of Rs.10/- each into 10 (Ten) equity shares of face value of Re. 1/-each, subject to the approval of shareholders and other approvals as may be required. The record date shall be decided by the board and will be announced later.

The board also approved issuance of Bonus Issue of Equity Shares in the proportion of 7 (seven) Equity Share of Re. 1/- each for every 1 (One) Equity Share of Re. 1/- each held by the Shareholders of the Company as on the record date, subject to the approval of shareholders i.e. in compliance with the applicable laws. The record date shall be decided by the board and will be announced in due course.

Shares of Sunshine Capital Ltd was last trading in BSE at Rs. 139.68 as compared to the previous close of Rs. 136.95. The total number of shares traded during the day was 592 in over 16 trades.

The stock hit an intraday high of Rs. 139.68 and intraday low of 139.68. The net turnover during the day was Rs. 82690.00.

Source : Equity Bulls

Keywords

SunshineCapital INE974F01017 StockSplit BonusIssue Loans