Kitex Garments Ltd Announces 2:1 Bonus Issue

Kitex Garments Ltd, a leading manufacturer of infant and children’s clothing, has announced a 2:1 bonus issue. Approved on November 22, 2024, this corporate action entitles shareholders to two new equity shares for every one share they hold. The record date for the bonus issue is January 17, 2025.

Bonus Issue Details

• Bonus Ratio: 2:1 (two additional shares for every one held).
• Objective: Reward shareholders and improve market liquidity.
• Capital Allocation: Kitex will use ?13.30 crore from its reserves to fund the bonus issue.
• Impact on Equity Capital: The paid-up equity capital will rise from ?6.65 crore to ?19.95 crore.

Eligible shareholders will receive their bonus shares within two months of the board’s approval, no later than January 20, 2025. Trading of the new shares is expected to begin on January 21, 2025.

Read more in detail: https://www.findoc.com/blog/kitex-garments-ltd-announces-bonus-issue