ETMarkets.com“Subject to approval of Members of the Company, the Board has proposed to issue Bonus Shares to its equity shareholders in the proportion of 3: 1 i.e. 3 (Three) new fully paid-up equity share of Rs. 2/- (Rupees Two) each for every 1 (One) existing fully paid-up equity share of Rs. 2/- (Rupees Two) each,” the company informed the exchanges via a filing.
The record date for this purpose will be informed by the company in due course of time.
On a pre-bonus basis, the paid-up equity share capital of RedTape stands at Rs 27.64 crore divided into 13.82 crore shares of Rs 2 each, which will become Rs 110.56 crore divided into 55.28 crore shares of Rs 2 each.
This is the first ever instance of the company issuing bonus shares to its shareholders, according to the Trendlyne data.
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A 3:1 bonus share issue means that for every 1 share held by an investor, the company will issue 3 additional shares for free.
Also read: NTPC Green Energy shares fall 3% as 1-month lock-in period ends today
In the last one year, the shares of RedTape increased by 92.4% in the last one year and by 86.4% on a year-to-date basis. The same has surged by 15.4% and 23.3% in the last 6 months and 3 months respectively, according to the BSE analytics.
RedTape shares were trading 3.3% higher at Rs 898.20 on the BSE at 2:50 pm.
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