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Home / News / Business News / ₹2,074cr finance company announces its first 1:1 bonus share issue
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₹2,074cr finance company announces its first 1:1 bonus share issue
Monarch Networth Capital has issued dividends in the past

₹2,074cr finance company announces its first 1:1 bonus share issue

By Akash Pandey
Jul 28, 2024
05:35 pm

What's the story

Monarch Networth Capital Ltd, an Indian financial service company, has unveiled plans to issue one bonus share for each stock held by shareholders, a first in the company's history.

The company, with a market capitalization of ₹2,074 crore, has never split its stock before but has issued dividends to its shareholders.

In an exchange filing, the firm stated it had approved the issuance of bonus shares through capitalization of reserves.

Bonus details

Details of the bonus share issue

The bonus shares will be issued to equity shareholders in a 1:1 ratio, meaning one new fully paid-up equity share of ₹10 each for every existing fully paid-up equity stock of ₹10 each.

The eligibility for these shares is determined by the record date, which is yet to be set by the board.

The issuance is subject to approval by members and any other applicable statutory and regulatory approvals.

You're
50%
through

Capital increase

Authorized share capital increase

The board of Monarch Networth Capital Ltd has also approved an increase in the authorised share capital from the existing ₹65 crore to ₹100 crore.

Companies typically issue bonus stocks to capitalise on their free reserves, increase their Earnings Per Share (EPS) and paid-up capital, and reduce their reserves.

These shares are issued at no additional cost to shareholders and are often referred to as free shares.

The company's stocks settled 1.76% higher at ₹618 apiece on NSE on Friday.

Done!
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