Multibagger non banking financial services (NBFC), Indus Finance Limited, share price ended with 5.26% weekly loss, weeks after the announcement of quarterly results and bonus share update. Despite the weekly decline, Indus Finance share price has rallied 144% in three months and around 390% return in six months.
As the multibagger stock has announced bonus share issuance, here are all the details about the corporate action.
The company’s board of directors considered and recommended a proposal for issue of bonus shares. The board approved and recommended the issue of bonus equity shares in the ratio 5:9. Which means shareholders will get five new fully paid-up equity shares (of face value ₹10 each) for every nine existing fully paid-up equity shares of ₹10 each held by them.
“The Board approved, and recommended to the members for their approval, the issue of bonus equity shares in the ratio of 5:9, i.e. 5 (Five) new fully paid-up equity share(s) of ₹[10]/- each for every 9 (Nine) existing fully paid-up equity shares of ₹[10]/- each held by the members,” stated the firm in its BSE filing.
The board is yet to announce a record date to determine the eligibility of shareholders for the bonus share. Investors who will own the stock before the record date will be eligible for the corporate action.