1:4 Bonus Shares: Record Date Today On September 19; A Day To Initiate Trade?

The firm Saksoft Ltd. is listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). As Saksoft walked towards the record date for 1:4 bonus shares on Thursday, its shares wrapped up 2.40% down at Rs 357.45 apiece, giving it a market valuation of Rs 3,574.50 Cr on Wednesday. September 19th has been set by the corporation as the record date for bonus issues. The record date is the deadline set by the corporation since it is the day on which it examines its records to determine which shareholders are eligible for its bonus issue hence the bonus shares are distributed to all shareholders on the record date.

Saksoft Bonus Shares

"With reference to our earlier communication dated 07th August, 2024 and in compliance with the Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) 2015, the Company has revised its Record date from Friday, September 13, 2024 to Thursday, September 19, 2024, for the purpose of ascertaining the eligibility of Shareholders entitled for issuance of fully paid up Bonus Shares of the Company in the proportion of 1 (One) new fully paid up equity share of Re. 1/- each for every 4 (Four) fully paid up existing equity shares of Re. 1/- each held, subject to the approval of Members by way of Postal Ballot through remote e-voting," said the company in a stock exchange filing.

Saksoft Bonus Share Allotment Date

The estimated date by which such bonus shares would be credited/dispatched is within two months from the date of approval of Board .i.e. by 6th October 2024.

The total number of securities proposed to be issued as a part of bonus shares is a total of 2,65,10,250 equity shares having face value of Re. 1/- each.

The free reserves and security premium of Rs. 2,65,10,250 has been initiated for implementation of bonus issue and the balances on free reserves as available as on March 31, 2024, are as follows: securities premium reserve- 131.42 Mn, general reserve- 46.44 Mn as per a stock exchange filing.

The pre-bonus paid up share capital comprises 10,60,41,000 equity shares amounting to Rs 106.041 Mn share capital whereas post-bonus issue paid up share capital comprises 13,25,51,250 equity shares amounting to Rs 132.551 Mm share capital.

Saksoft Share Price Target

"Saksoft stock price is overbought & bearish on the Daily charts with strong resistance at 381. A Daily close below support of 363 could lead to a target of 314 in the near term," said A R Ramachandran, Independent Research Analyst.

Disclaimer

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