5:1 Bonus Shares: Record Date To Be Intimated Soon; Buy 1 Share To Get 5 Piece Bonus?

Globally, Shakti Pumps India Ltd is the largest manufacturer and supplier of pumps and motors. Floodwater, oil, gas, water, agriculture, industrial, and more. Since 1982, Shakti Pumps (India) Limited has been a leader in the production of energy-efficient pumps and motors. The company is leading the way in offering a range of sustainable energy solutions, mostly to the agricultural industry. Applications include agricultural, irrigation, industrial processes and applications, pressure boosting in high-rise structures, rural and urban community water supply systems, waste and sewage water treatments, firefighting, and so forth are primarily served by the company's product line.

Shakti Pumps India Bonus Shares

"Recommended issue of Bonus Shares in the ratio of 5:1 i.e., 5 (Five) new fully paid up equity share of Rs.10/- (Rupees Ten only) each for every 1 (One) existing fully paid up equity share of Rs.10/- (Rupees Ten only) each to the eligible Shareholders of the Company as on the record date, subject to the approval of Members of the Company through postal ballot process. Record Date to determine the eligible shareholders for Bonus Equity Shares shall be intimated in due course of time to the exchanges separately," said Shakti Pumps India in a stock exchange filing on 07/10/2024.

Shakti Pumps India Bonus Shares Allotment Date

On or before November 30, 2024 is the estimated date by which such bonus shares would be credited /dispatched.

The company's pre-bonus issue paid-up share capital is 2,00,35,100 equity shares of Rs. 10 each aggregating Rs. 20,03,51,000/- while the post-bonus paid up share capital is 12,02,10,600 equity shares of Rs. 10 each aggregating to Rs. 120,21,06,000/-.
The bonus equity shares will be issued out of the securities premium account available based on audited financial results as of 31st March 2024 and a Securities Premium of Rs. 10017.55 Lakhs is required for implementing the bonus issue.

Shakti Pumps India Share Price Target

"Shakti Pumps is bearish on the Daily charts with strong resistance at 5125. A Daily close below support of 4800 could lead to a target of 4105 in the near term," recommended A R Ramachandran, Independent Research Analyst.

Disclaimer

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