The board of directors of SRF on Tuesday approved bonus issue in the proportion of 4:1 (four shares for every 1) to shareholders of the company as on the record date, subject to the approval of shareholders through Postal Ballot in compliance with the applicable laws.
Following the announcement, the stock jumped 4.82 per cent at ₹10,180 on the BSE. The pre-bonus paid up share capital of ₹59.24 crore will increase to ₹296.23 crore post-bonus issue.
Bonus shares will be issued out of securities premium account of the company available as at March 31, 2021. According to the company, as on March 31, 2021, ₹736.24 crore was available in securities premium account.