20 Oct , 2021 By : Kanchan Joshi
Indian Energy Exchange (IEX) on Tuesday announced its plans to issue bonus shares, which will be considered at an October 21 board meeting along with its quarterly earnings. Similarly, MPS Limited also informed that its board will meet next week on Wednesday, October 27, 2021 to consider the proposal for bonus issue of shares.
IEX shares have delivered multibagger return this year so far as the stock has surged over 250% in 2021 (year-to-date). Meanwhile, MPS shares have rallied around 96% during the said period. MPS Ltd is a leading global provider of platforms and content solutions for the digital world.
Apollo Pipes board will also consider a proposal for issue of bonus shares on the equity shares of the company at its meet on Friday i.e., October 22, as announced by the pipe manufacturer last week. The multibagger stock has risen more than 160% in year-to-date terms.
A company issues bonus shares for their shareholders in order to increase the liquidity of the stock as well as with the aim to decrease its stock price to make it affordable for investors. Bonus shares are fully paid additional shares issued by a company to its existing shareholders.
On the other hand, Godawari Power & Ispat on October 14 had informed that its board approved the proposal to issue bonus shares by in the eatio of 1:1. (i.e. One (1) new fully paid-up Equity Shares of Rs5/- (Post Sub division) each for every One (1) Equity Shares of Rs5. The company has fixed Wednesday, 27th October, 2021 as the record date for the purpose of allotment of bonus shares.
Earlier this month, Man Infraconstruction board approved the issue of bonus equity shares in the ratio of 1 (one) new equity bonus share of Rs. 2/- each for every 2 (two) existing equity shares of Rs. 2/- each held by the shareholders of the company.
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