Mindteck to issue 1:4 bonus shares

8 Oct 2024 , 02:34 PM

Mindteck will give shareholders one additional share for every four shares they already possess, the company said in an exchange filing. Both the BSE Ltd and the National Stock Exchange of India Ltd have approved the bonus share issuance. The record date for the bonus issue is September 20, 2024.

Companies frequently issue bonus shares to reward their shareholders and increase the liquidity of their stock. Bonus shares are a means to compensate existing owners without paying cash dividends. It raises the amount of shares they own, which may boost their wealth if the company’s stock price improves.

Companies that issue additional shares can boost their stock’s liquidity, making it simpler to acquire and sell on the market. It also communicates to the market that the company is confident in its future and financial health.

Not just Mindtech, but also Power Mech Projects, NBCC, Bombay Metrics, Shikhar Leasing, and Classic Electric have recently rewarded their investors with bonus shares.

Mindteck (India) Ltd. (Mindteck) specialises in engineering and information technology. The company provides product engineering, application software, testing, enterprise business services, electronic design, wireless and Internet of Things (IoT), big data, and analytics. The company provides enterprise applications and product lifecycle management, embedded systems and apps, mobility and cloud, and IT security services.

At around 1.08 PM, Mindteck was trading 1.94% lower at ₹271, against the previous close of ₹276.35 on NSE. The counter touched an intraday high and low of ₹276, and ₹271, respectively.

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