Infibeam Avenues board approves bonus issue; Stock trades flat

17 Mar 2022 , 02:10 PM

Infibeam Avenues Limited Securities Allotment Committee of Board of Directors at its meeting held on March 16, 2022 has approved the allotment of 133,81,55,231 Equity Shares of Re1/- each by way of bonus issue to such members whose names have appeared in the Register of Members as on March 15, 2022, being the Record Date fixed for the said purpose, in the proportion of 1 (One) new fully paidup Equity Share of Re. 1/- each for every 1 (One) existing fully paid-up Equity Share of Re. 1/- each held by them, (i.e., in the ratio of 1:1).

“The new Bonus Equity shares allotted shall rank pari-passu in all respects with the existing Equity Shares in the Company.

The requisite compliances with respect to the credit of Bonus Equity Shares in the demat accounts of the Shareholders shall be completed in due course on or before March 31, 2022,” company said in a filing on Wednesday.

At around 2.12 pm, Infibeam Avenues Limited was trading at Rs21.00 per piece down Rs0.05 or 0.24% on the BSE.