1:10 Bonus Shares: September 28 Record Date; Buy 10 Shares To Get 1 Free?

On October 15, 1990, Pulsar International was established. The company is an investment company that currently operates in the Indian mutual fund unit trading market. Listed with the Registrar of Companies in Mumbai, Pulsar International Limited is a public company that falls under the category of Indian Non-Government Company. Following the company's announcement of the record date for bonus shares, Pulsar International, a penny stock, ended 1.45% down on the BSE on Thursday, closing at Rs 15.60, with a market capitalisation of Rs 101.24 Cr.

Pulsar International Bonus Shares

"With reference to the caption subject and further to our intimation dated August 22, 2024 and pursuant to Regulation 42 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations") (as amended from time to time), we wish to inform you that the Company has fixed Saturday, September 28, 2024 as the 'Record Date' for the purpose of ascertaining the eligibility of Shareholders entitled for issuance of Bonus Equity Shares of the Company in the proportion of 1 (One) new fully paid up Equity Share having face value of Rs.1/- each for every 10 (Ten) existing fully paid up Equity Share having face value of Rs.1/- each," said Pulsar International in a stock exchange filing.

Pulsar International Bonus Issue Allotment

"The Board of Directors in its meeting held on August 22, 2024 considered, approved and recommended an issue of bonus shares in the proportion of 01:10 i.e. 01 (One) new Equity Shares of the Company of Rs.1/- (Rupees one only) each for every 10 (Ten) existing Equity Shares of the Company of Rs.1/- (Rupees one only) each held by the Members on the "Record Date" to be determined by the Board from amount standing to the credit of free reserves and/or the securities premium account as at March 31, 2024. The bonus shares upon their issue and allotment shall rank pari-passu in all respects with the existing shares including dividend, if any. As on March 31, 2024 the Audited Cumulative reserves and surplus of the Company is Rs.366.16/- Lakhs. The Securities Premium of the Company shows a balance of Rs.104.70/- Lakhs as on March 31, 2024. The reserves and surplus including security premium required for implementing the bonus issue required is Rs.64.90/- Lakhs. The issue of bonus shares needs to be considered in the interest of the shareholders and to enhance liquidity of the shares of the Company. The issue of bonus equity shares by way of capitalization of the sums standing to the credit of Free Reserve, as may be considered appropriate for the purpose of issue of bonus equity shares requires members' approval in terms of Sections 63 of the Companies Act, 2013 and other applicable statutory and regulatory approvals," said Pulsar International in a regulatory filing.

Pulsar International Share Price Target

"Pulsar International stock price is bearish on the Daily charts with strong resistance at 16. A Daily close below support of 15 could lead to a target of 12 in the near term," said A R Ramachandran, Independent Research Analyst.

Disclaimer

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