Utssav CZ Gold Jewels approves 1:1 bonus issue, to double equity capital
Reported by Business Standard, not nibnow. We are not the publisher of this story, only the source is.
The approved bonus issue will double the company's paid-up equity capital to approximately Rs 50 crore, a move that typically signals management confidence in future growth and can impact shareholder equity structure.
Utssav CZ Gold Jewels Ltd has approved a 1:1 bonus share issue that would double its paid-up equity share capital to Rs 49.996 crore, subject to shareholders' approval and other regulatory clearances. The company's board approved the proposal on October 23 to issue one fully paid-up equity share of Rs 10 each for every existing share held by eligible shareholders, the jewellery manufacturer said in a statement. The proposed issue will comprise 2.5 crore bonus shares, increasing the total number
A bonus issue allows a company to distribute additional shares to existing shareholders for free, funded by transferring amounts from its reserves to the share capital account, which increases the total number of shares without raising new external cash.
- •Shareholder approval at the upcoming general meeting
- •Regulatory clearances required to finalize the issue
- •The official record date for determining eligible shareholders