Standard Capital declares 2:1 bonus shares, 1:10 stock split. Details here
Bonus shares, stock split: Shares of Standard Capital Markets Limited will be in focus when Indian stock market opens on Tuesday after extended weekend as stock market holiday falls on Monday due to Gurunanak Jayanti celebrations across nation. In meting held on Friday, the board of directors of the company has considered and approved proposal for issuance of bonus shares and stock split. The company board approved bonus shares in 2:1 ratio, which means two bonus shares for every one share of the company held by eligible shareholders.
Likewise, board of directors of the company approved stock subdivision in 1:10 ratio, which means an eligible shareholder’s shareholding in the company would rise 10 times without any further investment. However, this won’t have any impact on absolute value on an eligible shareholder’s investment amount in the company. The company board approved stock split and bonus shares during its meeting on 24th November 2023.
Standard Capital Markets bonus shares
The small-cap company informed stock market bourses about approval to the proposal for bonus shares citing, “In compliance with Regulations 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (including any statutory modification(s), amendment(s), and re-enactment(s) thereof) read with SEBI circular dated September 09, 2015 and July 13, 2023 (“SEBI Circular”), this is to inform that the Board of Directors of the Company at their meeting held today i.e., Friday, November 24, 2023, has, inter alia, considered and approved Bonus Issue of Equity Shares in the ratio of 2:1 i.e., 2 Equity Shares of ₹ 1/- each for every 1 Equity Share of ₹1/- each held by the shareholders of the Company as on the Record Date (to be determined by the Board and will be intimated to the exchange), subject to the approval of members of the Company by Extraordinary General Meeting.”
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Standard Capital Markets stock split
The company also informed about approval to stock split proposal citing, “In compliance with Regulations 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (including any statutory modification(s), amendment(s), and re-enactment(s) thereof) read with SEBI circular dated September 09, 2015 and July 13, 2023 (“SEBI Circular”), this is to inform that the Board of Directors of the Company at their meeting held today i.e., Friday, November 24, 2023, has, inter alia, considered and approved Sub-division of 1 (One) Equity share of face value of ₹10/-(Rupees Ten only) each fully paid-up to 10 (Ten) Equity shares of the face value of ₹1 (Rupee One only) each fully paid-up.”
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Updated: 25 Nov 2023, 10:22 AM IST
