Bonus + stock split bonanza: Listed regional FMCG player, Sheetal Cool Products Limited, has recently announced stock split and bonus issue for investors. The corporate action announcement coincided with nearly 11.39% return over the past one week.
Sheetal Cool Products share price closed 1.11% higher on Friday, November 14, extending its bullish run over the past few months. For investors who closely track the details, here are all the details to know.
The company’s board of directors has also “recommended the issue of bonus equity shares in the ratio of 5:1, ie 5 fully paid-up equity shares with a face value of ₹5 each for holding every single stock of the company. Only eligible investors would receive bonus shares based on the record date.
The board has considered and recommended stock split in the ratio of 1:2. Which means that every company stock (with face value of ₹10 each), will be split into two stocks (with face value of ₹5 each).
The board considered and approved “sub-division of 1 (One) Equity Share of face value of ₹ 10/- (Rupees Ten only) each, fully paid-up, into 2 (Two) Equity Shares of face value of ₹ 5/- (Rupees Five only) each, fully paid-up, and consequential alteration of the capital clause of the Memorandum of Association,” read the BSE filing released earlier.