NSE-listed Dangee Dums, leading cake and ice-cream brand, has approved a bonus issue, stock split and increase in authorised share capital of the company.
At the board meeting held on Tuesday, the company fixed September 7 as the record date for the bonus issue and share split. The board approved a bonus issue of one new bonus equity share for every two existing share held.
The company will also subdivide one equity share of face value of ₹10 each into 10 equity shares of face value of ₹1 each, subject to approval of shareholders.
Authorised capital increase
The Board also approved the proposal to increase the authorised capital from ₹11 crore to ₹16 crore. Nikul Jagdishchandra Patel was re-appointed as Chairman and Managing Director of the company for three years.
The company owns a modern manufacturing facility at Piplaj, Ahmedabad, spread over 25,000 sq ft. It operates through 78 COCO (company-owned and company-operated) stores across the two formats in Ahmedabad and 75 cakery format stores. The brand is present in five cities with 45 stores in Ahmedabad, 18 stores in Surat, nine stores in Vadodara, three stores in Anand and three stores in Gandhinagar.
Shares of the company were up one per cent at ₹397 on Tuesday.