1:1 Bonus Shares: Record Date In 3 Days; Buy The Large-Cap NBFC Stock?

As of 02 Mar 24 | 10:00 A.M IST, Capri Global Capital Limited, a large cap firm in the financial services industry, has a market valuation of Rs 20,685.37 Cr. A diversified Non-Banking Financial Company (NBFC), Capri Global Capital Limited (CGCL) is traded on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). Next week, traders will be focusing on Capri Global Capital because the company announced a 1:1 bonus share and set Tuesday, March 5, 2024, as the record date for the same.

Capri Global Capital Bonus Shares

For the purpose of 1:1 i.e 1(One) new fully paid-up bonus equity share of face value of Re.1/- (Rupee One only) each for every 1 (One) fully paid-up equity share of face value of Re.1/- (Rupee One only), the Board of Directors of the company have fixed Tuesday, March 5, 2024 as the record date.

Capri Global Capital News

"The Board of Directors also approved a stock split from Rs 2/- face value to Re1/- face value. The stock split will increase the fully paid-up equity of CGCL from Rs 206.23mn pre-split to Rs 412.46mn post-split. The authorized share capital will be increased from Rs 360 mn to Rs 720 mn to accommodate the increase in paid-up equity capital. The Company's stock had last split in Nov'16 from Rs10/- face value to Rs2/- face value.

The Board of Directors also approved a bonus issue in the ratio 1:1, that is, one bonus share for every one fully paid-up equity share held by the shareholders. The Company shall utilize Rs 412.46 mn from the balance in the securities premium account for bonus issuance. CGCL had Rs 18,834 mn in the securities premium account as on March 31, 2023. Both these decisions shall enhance free float liquidity of CGCL and aid in shareholder value creation. The Company shall be seeking shareholder approval for same," said Capri Global Capital in a stock exchange filing.

Capri Global Capital Share Price Target

Capri Global is bullish on the daily charts with strong support at 975. A daily close above resistance of 1027 could lead to a target of 1109 in the near term, said AR Ramachandran from Tips2trades.

Disclaimer

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