Bonus shares 2024: Kitex Clothes on Friday, November 22 introduced that its board has permitted a bonus share difficulty within the ratio of two:1. It means the corporate is providing two new totally paid fairness shares for each current share held by the shareholders.
The corporate plans to finalise and announce the “document date” to find out eligible shareholders in the end.
Kitex Clothes share worth was buying and selling within the crimson, down 3.92 per cent at ₹642.80 on November 22 at 1:43 pm on BSE. The corporate enjoys a market capitalisation of ₹4,274.62 crore.
“The Firm proposes to difficulty Bonus Fairness Shares within the ratio of two:1, i.e., 2 (Two) new totally paid fairness shares of ₹1/- every for each 1 (One) current fairness share of ₹1/- every held as on the Report Date by the shareholder, topic to the approval of the shareholders of the Firm via Postal Poll,” the corporate mentioned in an trade submitting.
Affect on Fairness Capital
Kitex Clothes at the moment has a paid-up fairness share capital of ₹6.65 crore, comprising 6.65 crore shares of Re 1 every. For the bonus difficulty, the corporate will allocate ₹13.30 crore from its common reserve or retained earnings. As soon as accomplished, the paid-up fairness share capital is predicted to rise to ₹19.95 crore, reflecting 19.95 crore shares of Re 1 every.
Based on the corporate, the bonus shares can be credited to eligible shareholders inside two months of board approval, no later than January 20, 2025.
Monetary efficiency
Kitex Clothes reported spectacular development in Q2 FY25. Its consolidated internet revenue surged by 181.39 per cent year-on-year, reaching ₹37.34 crore. This was supported by a 61.15 per cent enhance in gross sales, which climbed to ₹215.88 crore in comparison with Q2 FY24.
Shifting its focus past home operations, the corporate continues to export cotton clothes, primarily toddler put on, throughout international markets. Kitex operates in two segments: clothes and cloth manufacturing.
Disclaimer: The views and proposals above are these of particular person analysts or broking firms, not Mint. We advise traders to examine with licensed specialists earlier than making any funding choices.
