10:1 Stock Split, Bonus Issue: This garment player fixes record date - Check Details
The company, in an exchange filing, said that it has fixed a record date for both corporate actions.
Garment player Lorenzini Apparels Ltd has announced twin corporate actions - a 10:1 stock split and bonus issue. The company, in an exchange filing, said that it has fixed a record date for both corporate actions. According to the information available, the bonus shares will be given to investors after the stock split.
Lorenzini Apparels 10:1 Stock Split, Bonus Issue: Record Date
Lorenzini Apparels - which is in the business of manufacturing, designing and marketing of readymade garments - has fixed Match 27 as the record date for both stock split and bonus issue.
The record date is important for companies as it helps them finalise the list of shareholders eligible for dividends or other such corporate actions.
"The Board of Directors in their meeting dated March 15, 2024, has fixed Wednesday, March, 27th 2024 as the Record Date," the company said in an exchange filing.
Earlier, the company approved proposals to distribute bonus shares in the ratio of 6:11 i.e. six new fully paid-up equity shares of Re 1 each will be issued for every 11 fully paid-up equity shares of Re 1 held by the security holders.
The board has also approved the sub-division of the face value in the ratio of 10:1.
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