The record date for reckoning eligibility of the shareholders entitled to receive bonus shares will be intimated later. The company proposes to issue 2.27 crore equity shares as part of the bonus announcement. However, the actual number of bonus shares to be issued will be determined based on the paid-up share capital as on the record date.
The Bonus equity shares will be issued out of free reserves created out of profits and securities premium accounts.
A company issues bonus shares for their shareholders in order to increase the liquidity of the stock as well as with the aim to decrease its stock price to make it affordable for investors.
Bonus shares are fully paid additional shares issued by a company to its existing shareholders. When a firm issues bonus shares, its shareholders do not have to incur any extra costs to get them. The number of bonus shares you receive depends on the number of shares of the firm you already hold. All shareholders who own shares of the firm before the record date, which is determined by the firm, are eligible for additional shares.
Shish Industries manufactures and distributes plastic containers and packaging solutions. The company provides corrugated sheets, pads, and rolls, as well as boxes, racks, floor guards, roofing products, and other related plastic materials.
The company’s shares have delivered multibagger returns so far this year, rising as much as 153%. In the last five years, the stock has soared 2,600%