Alliance Integrated Metaliks, a smallcap iron and steel products maker, will be in focus this week. On Tuesday, the stock price tumbled and erased its Rs 100 mark, despite the announcement of a bonus issue allotment. The company is scheduled to deliver 2:1 bonus shares and has fixed July 11th as the record date to determine eligible shareholders.
Alliance Integrated Metaliks Share Price:
After market hours, the metal stock ended at Rs 96.25 apiece, down by 2.5% on BSE with a market cap of Rs 1,267.13 crore. The stock touched a new 52-week high of Rs 103 apiece during trading hours on Tuesday, before correcting to a bearish trend.
The stock is still up by nearly 399% from its 52-week low of Rs 19.30 apiece. YTD, the stock is up by 158.25%. In 5 years, the stock zoomed by 1,325.93% on BSE.
Alliance Integrated Metaliks Bonus Issue:
On July 8th, Alliance Integrated announced that it received in-principle approval for the allotment of not exceeding 26,33,00,000 Bonus equity shares of Re. 1/- each in the ratio of 2 (two) new equity shares for every 1 (one) existing equity shares held in the Company subject to the company fulfilling the following conditions:
- Submission of listing application form for the new securities to be allotted and documents as per Format available on the website of BSE Ltd. under the following link - http://www.bseindia.com/static/about/downloads.aspx
- Payment of Additional listing fees on the enhanced capital, if applicable.
- Receipt of statutory and other approvals and compliance with guidelines issued by the statutory authorities including SEBI, RBI, MCA etc.
- Compliance with any change in the guidelines, regulations directions of the Exchange or any statutory authorities, documentary requirements from time to time.
- Allotment of Equity Shares shall only be made in dematerialized form.
Alliance Integrated is set to turn ex-bonus on July 11th, which is also the record date to determine eligible shareholders for the bonus issue in the ratio of 2:1, which means free 2 bonus shares against the existing 1 share.
About Alliance Integrated Metaliks:
AIML offers a fully integrated one-stop shop for Heavy Fabrication. The company is engaged in supplying critical structures to industries ranging from Power, Railways, Roads, Metros and Industrial and Residential. It has a strong client base such as L&T, Tata Projects, AFCONS, Shahpoorji, APCO, and SP Singla. Also, the company is accredited and approved by RDSO, Delhi Metro, and NHAI.
So far, the company has supplied 1.3 lakh MT of steel structure, built 42 acres of plant area, and its installed capacity is 42,000 MT.
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