Focus on Gensol Engineering Shares Issuance Of 2:1 Bonus Shares; Details Inside

A day after the corporation evaluated and approved Bonus shares in a 2:1 vote, on Thursday, September 7, interest in Gensol Engineering shares increased.According to the ratio of 2 (two) Bonus Equity Shares of Rs 10 (Rupee 10) for every 1 (one) fully paidup Equity Share of Rs 10 (Rupee 10) each held by them, the company will issue Bonus Shares of Rs 10 each, credited as fully paid-up to the holders of the Equity Shares of the Company whose names shall appear on the Register of Members on the “Record Date” determined by the Board. The Bonus Shares so distributed shall, for all purposes, be treated

The Board of Directors has approved an increase in the Company’s authorized share capital from Rs 15,00,00,000, which consists of 1,50,00,000 Equity Shares of Rs 10 each, to Rs 40,00,00,000, which consists of 4,00,00,000 (Four Crores) Equity Shares of Rs 10 each, the company stated in a filing with the stock exchange on Wednesday.

The bonus shares, once distributed, will have the same rights and rank pari passu as the existing equity shares. They will also be eligible to fully participate in any dividends and other corporate actions that are recommended and declared after the new equity shares are distributed. The amount of equity shares the business plans to issue is 2,52,48,598.

The engineering firm’s recommendation of bonus shares is not new. Prior to that, in 2021, the stock gave extra shares to its owners. Gensol Engineering traded ex-bonus on October 11, 2021, based on information found on the BSE website.

At 2:28 PM IST today, Gensol Engineering shares were trading 2.28% down at Rs 1,975.90 a share.