Mumbai, Aug 16 : After the board of directors recommended issuing bonus shares, Samvardhana Motherson International Ltd shares rose over 3 percent.
The company’s shares were trading at Rs 126.90 at 1.40 p.m. The company’s shares closed at Rs 126.90 on Tuesday, up 4.15 or 3.38 percent.
A bonus share will be issued in the ratio of 1 bonus equity share to 2 existing equity shares, subject to shareholder approval.
In two months from the date of board approval, which is October 15, such bonus shares should be credited or dispatched.
The company’s paid-up equity share capital will rise from Rs 451.76 crore to Rs 677.64 crore after the bonus shares are issued.
