Garware Technical Fibers Ltd has announced to issue bonus shares to its existing shareholders in the ratio of 4:1.
- The board members of the company have approved the issue of 7,94,12,676 bonus equity shares.
- The face value of each bonus share will be ₹10.
- Record date: January 3, 2025.
- Current share price: ₹4,269 per share.
Bonus share details
- 4:1 ratio:
- For every 1 share, the company will give 4 additional bonus shares.
- Market Cap:
- The market cap of the company as on 24 December 2024 was ₹8,475.42 crore.
stock performance analysis
- Closing price on December 24, 2024: ₹4,269.05.
- 52-week range: ₹3,116.10 to ₹4,925.80.
- Upper and lower circuit limits: 20%.
Importance of Bonus Shares
What are bonus shares?
- Bonus Share:
- Additional shares given to existing shareholders free of charge.
- These are distributed on the basis of the number of shares existing.
- Example:
- If the bonus ratio is 4:1 and you hold 100 shares, you will get 400 additional shares, taking your total shares to 500.
Benefits for Shareholders:
- Bonus shares increase the total shareholding of the shareholders.
- Shareholders’ confidence in the company’s performance is strengthened.
Garware Technical Fibers Business
- Established: 1976.
- flagship product:
- Agricultural nets, fishing nets, sports nets, security nets, coated fabrics, polymer ropes, and geosynthetics.
- Global market leader:
- Provides innovative solutions in the field of technical textiles.
