1:5 Bonus Shares Allotment: Record Date On 03rd January 2025; Stock To Add To Your Portfolio Today?

Based in Mumbai, India, Ceenik Exports (India) Limited is a merchant exporter business that specialises in producing and selling clothing. Since its founding in 1995, the firm has acquired a strong presence in international markets such as the United States and the United Arab Emirates. Following the company's announcement of the record date for 1:5 bonus shares, Ceenik Exports (India) shares closed Tuesday's trading session 1.76% higher at Rs 1269.20 per share, with a market capitalisation of Rs 425.18 Cr.

Ceenik Exports Bonus Shares

"As you all are aware that the Company's shares have been listed on Bombay Stock Exchange. The Company has performed significantly well both in terms of profit and business in the year 2023-24 and in the first half of F.Y. 2024-25. As on 30th September, 2024 total Reserve & Surplus including General Reserve and free reserves of the Company is Rs. 9,02,53,000/- With a view to capitalize the Security Premium Account and to rationalize the capital structure, Board of Directors in its meeting held on November 20, 2024 have proposed to issue bonus shares at the ratio of 1:5 [i.e. 1 (One) fully paid up equity shares for every 5 (Five) equity shares held]. This bonus allotment will also rationalize the paid-up capital of the company with the funds employed in the company," said Ceenik Exports in a regulatory filing.

Ceenik Exports Bonus Shares Record Date

"Pursuant to provisions of Regulation 42 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, we hereby inform you that the Company has fixed Friday, 03rd January, 2025 as Record date for the purpose of ascertaining the eligibility of shareholders entitled for issuance of Bonus Equity Shares," said Ceenik Exports in a stock exchange filing on Tuesday.

Ceenik Exports Bonus Shares Allotment

"Pursuant to SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, the allotment of shares in Bonus Issue shall be made only in dematerialised form and thus in the case of Shareholders who hold Equity Shares in dematerialised form, the Bonus Shares shall be credited to the respective beneficiary accounts of the Shareholders with their respective Depository Participant(s) and in the case of Shareholders who hold Equity Shares in physical form, the Bonus Shares shall be transferred to the Suspense Account opened in this regard, within such time as prescribed by law and the relevant authorities, subject to the guidelines issued by SEBI, in this regard," Ceenik Exports said in an exchange filing.

"In case of fractional shares, if any, arising out of the issue and allotment of the Bonus Shares, the Mr. Narain Hingorani and/or Mr. Kavita Hingorani, Directors of the Company be and is hereby authorised to make suitable arrangements to deal with such fractions for the benefit of the eligible Shareholders, including but not limited to, allotting the total number of new Equity Shares representing such fractions to a person(s) to be appointed by the Board of Directors who would hold them in trust for such Shareholders and shall, as soon as possible, sell such Equity Shares at the prevailing market rate and the net sale proceeds of such Equity Shares, after adjusting the cost and the expense in respect thereof, be distributed among such Shareholders who are entitled to such fractions in the proportion of their respective fractional entitlements," Ceenik Exports further added.

Ceenik Exports Share Price Target

"Ceenik Exports stock price is bearish on the Daily charts with strong resistance at 1320. A Daily close below support of 1230 could lead to a target of 1170 in the near term," said A R Ramachandran, Independent Research Analyst.

Disclaimer

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