2:1 Bonus: Below Rs 30, Smallcap Steel Stock To Reward 26,33,00,000 Bonuses After Ex-Bonus; Who Is Eligible?

Alliance Integrated Metaliks, witnessed heavy selling on July 12 after turning ex-bonus on July 11 for its bonus issue ratio of 2:1. Despite the latest downside, the stock is a multi-bagger in 2024, with gains of a whopping 133% on BSE. After turning ex-bonus, the company will allot 26,33,00,000 bonus rewards. But who will be eligible for this benefit?

On July 12, this smallcap stock ended at Rs 28.90 apiece, down by 8.22% on BSE with a market cap of Rs 1,141.41 crore, The stock is still near its 52-week high of Rs 34.30 apiece.

Alliance Integrated turned 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.

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.

Those investors will be eligible who are holding Alliance Integrated shares by the end of July 11th. That means investors who bought shares on July 12 and going ahead, will not be eligible for the bonus rewards.

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.