Bonus Share: This company will give 1 bonus share on every 1 share, board approves- check details
Switzerland Nestle India, a subsidiary of Nestle, a famous food company, shared very important and big information in an exchange filing on Thursday. Nestle India said that the company’s board of directors have approved the proposal to issue bonus shares to shareholders in 1: 1 ratio. Nestle India said in the information to the stock market that the shareholders will be issued a bonus share of a face value of Rs 1 on each share with a face value of Rs 1. Let us tell you that the company had announced on June 19 that the company’s board would consider issuing bonus shares for shareholders.
Nestle India has not yet announced a record date for bonus share
Nestle India stated in the exchange filing that the final decision on the announcement of issuing bonus shares will be taken by the company members in the upcoming EGM of Nestle India. Let us tell you that the company’s EGM (extraordinary general meeting) is to be held on July 24 next month. The company has not yet announced a record date to issue bonus shares. The company stated in the filing that the record date will be announced later. Let us tell you that this is the first time since 1996 that the company has announced to issue bonus shares.
How is shares move after announcement of bonus share
Nestle India shares were trading on BSE at 12:34 pm on Thursday at Rs 2408.35 with a slight increase of Rs 3.90 (0.16%) on BSE. Today, during the business, the company’s shares reached Intrade Low of Rs 2404.00 to Intrade High of Rs 2444.65. Nestle India shares have 52 weeks high 2777 rupees, while its 52 week is Rs 2115. According to BSE data, the current market cap of food products is Rs 2,32,458.29 crore.
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