SG Mart Ltd on Monday (January 8) said its board of directors has given itds nod to some corporate actions, including the issuance of bonus shares and a stock split.
The approved bonus share issuance entails a 1:1 ratio, translating to one bonus equity share for every existing equity share held by eligible shareholders as of the yet-to-be-announced record date. This move is subject to shareholder approval through a postal ballot, along with other requisite regulatory nods.
Moreover, SG Mart's Board has greenlit a stock split in the ratio of 1:10, signifying a sub-division/split of the company's equity shares. Following this decision, each existing equity share with a face value of ₹10 will be divided into 10 equity shares, each carrying a face value of ₹1.
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The record date for this division or split will be communicated to the stock exchange in due course, pending necessary approvals.
Furthermore, the bonus shares, once approved, are slated to be credited or dispatched within two months from the Board's approval, ensuring the timely realisation of the benefits for the eligible shareholders.
Shares of SG Mart Ltd ended at ₹10,505.10, up by ₹205.95, or 2.00%, on the BSE.
First Published: Jan 8, 2024 9:43 PM IST
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