Gensol Engineering Offers Bonus Shares to Shareholders

Gensol Engineering Offers Bonus Shares to Shareholders

VoM News Desk | October 17, 2023 | 10:34 AM IST | Breaking News | Follow on Google News

Gensol Engineering Offers Bonus Shares to Shareholders

Gensol Engineering Offers Bonus Shares to Shareholders

Today, Gensol Engineering stocks will be at the center of attention as they trade ex-bonus. The company’s board had previously declared bonus shares in a 2:1 ratio, which signifies that shareholders holding one stock of the company on the bonus shares record date, falling on October 17, 2023, will be awarded one bonus share.

Bonus Shares Record Date Announcement

Gensol Engineering communicated the bonus shares record date to Indian stock market exchanges through an official exchange filing. The company stated, “We wish to inform you that pursuant to Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has fixed Tuesday, October 17, 2023, as the Record Date to determine eligible shareholders entitled to receive the Bonus Shares.”

Board’s Decision on Bonus Shares

In an earlier announcement, the company’s board had approved and recommended the issuance of bonus shares in a 2:1 ratio. The bonus shares would be awarded to shareholders of the company as of the record date, subject to the approval of the Members through a General Meeting and other applicable statutory and regulatory approvals. These bonus shares would hold the same rights as the existing equity shares and participate fully in dividends and other corporate actions.

Gensol Engineering’s Bonus Share History

This isn’t the first time that Gensol Engineering is trading ex-bonus. The company previously traded ex-bonus in 2021. In that instance, it offered bonus shares in a 1:3 ratio, meaning one bonus share for every three stocks held by eligible shareholders.

Impressive Share Price Performance

Gensol Engineering is among the standout multibagger stocks produced by the Indian stock market in 2023. Year-to-date, this small-cap stock has witnessed a remarkable rise, surging from approximately ₹1,015 to ₹2,405 per share on BSE. This surge represents a substantial 135 percent return for its shareholders during this period.

VoM News Desk

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