5:1 Bonus Issue: Retail Stock Issues New Update Post Mkt Hours, Up 290% In 6-Months

Small cap company from the specialty retail industry, Eastern Logica Infoway Ltd shares gained 1.24% intraday today to settle at Rs 1447.85 apiece. The company after market hours informed via its BSE filing, "ln terms of Regulation 28(l) of SEBI (Listing obligations and Disclosure Requirements) Regulations, 2015 with regard to issue of Bonus Shares, we would like to inform you that the company has received in-principle approval from BSE Limited."

The BSE filing added, "The Exchange is pleased to grant in-principle approval for issue and proposed allotment of not exceeding 1,42,53,345 Bonus equity shares of Rs 10/- each in the ratio of 5 (five) new equity share for every 1 (one) existing equity shares held in the company."

Eastern Logica Infoway Approved 5:1 Bonus Shares And Fixed Feb 21, 2024 As Record Date: The company on January 17, 2024 approved bonus issue in the ratio of 5:1 i.e. Five new bonus Equity Share for every One existing fully paid up Equity Shares of Rs. 10/- each. It issued BSE filing stating, "Pursuant to Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 20 I 5, The Company has fixed Wednesday, February 21st, 2024 as the "Record Date" for the purpose of ascertaining the eligibility of shareholders for Issue of Bonus Equity Shares in the ratio of 5:1, which is subject to the approval of shareholders."

Importance of Record Date In Bonus Issue: Record date can be described as the cut-off date that the company sets. Investors must be shareholders of the company before the record date so that they can become eligible to get bonus shares.

Eastern Logica Infoway Stock Performance & Return: The 52-week high price of Eastern Logica Infoway shares on BSE is Rs 1501.00 apiece and 52-week low price is Rs 195.10 apiece, respectively. Eastern Logica Infoway has a market capitalisation of Rs 412.73 crore. Eastern Logica Infoway shares recorded a surge of 80% year-to-date, soared 290% in last 6-months, and gained 540% in last 1-year.

Eastern Logica Infoway About: The company retails electronics products. It offers computers, laptops, tablets, monitors, printers, hard discs, scanners, mobile phones, speakers, headset, power bank, headphones, keyboard, and other accessories, among others.

Disclaimer: The stock highlights the bonus share and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.