Photo : Shutterstock.com
Bonus Issue 2024: Multibagger stock with 262% returns in 2023 to give bonus shares – Check ratio, credit date
Bonus Issue 2024: Shareholders of a small-cap power generation company will soon be issued bonus shares as the company on Saturday approved a bonus issue. KP Energy has informed that its board has given its approval to the issuance of bonus shares to eligible shareholders.
It is a corporate action under which a company distributes bonus shares to its current shareholders as fully paid shares free of charge.
Bonus Issue 2024
KP Energy on Saturday announced the issuance of bonus equity shares in an exchange filing on BSE. “We wish to inform you that the Board of Directors of the Company at its meeting held today i.e. December 30, 2023, has considered and recommended issue of Bonus Equity Shares in the proportion of 2:1,” it said.
This means that eligible shareholders will get 2 KP Energy shares for every 1 stock they hold of the company as on the record date.
KN Energy Bonus Issue 2024
Total number of equity shares proposed to be issued or the total amount for which the securities will be issued (approximately) is Rs 22.2 crore divided into 4.44 crore equity shares of Rs 5 each fully paid up. Bonus equity shares will be issued out of free reserves created out of profits as on March 31, 2023. The balance of Rs 112.83 crores is available in the free reserves account, KP Energy said.
KN Energy Bonus Share Date
The power generation company said that the bonus shares will be issued after obtaining shareholders approval and other Statutory/Regulatory approvals, as may be necessary. “They shall be credited/ dispatched within 2 months from the date of the Board approval i.e. on or before February 29, 2024.”
KN Energy Share Price History
Small-cap KP Energy stock settled over 3 per cent up at Rs 674.70 on the BSE on last trading day of 2023. The stock has risen 26.21 per cent in the last 1 month while nearly doubled money in 6 months with 98.41 per cent returns. In 2023, the scrip has delivered 262 per cent returns in 2023.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
