Stock Split, Bonus Issue News: What shareholders of this company should know

Stock Split, Bonus Issue News: Fabric player Alstone Textile (India) Limited was scheduled to meet on November 10th 2022 to undertake the corporate action of sub-division of equity shares and issue of bonus shares to the shareholders. The company board was slated to consider the proposal of a stock split of equity shares with a face value of Rs 10/- of the company in 1:10 ratio.

Stock Split

This means an eligible investor would get 10 equity shares with a face value of Re 1/- each of the company for every one share with a face value of Rs 10/- held by them, if the company announces any such action.

Bonus Issue 

Subsequent to the stock split, the company may announce issuance of bonus shares for the shareholder in any prescribed ratio, which will further increase the share capital of the company.

In case of such corporate action, the company would require acceptance of the amendment to the Company's Memorandum of Association to amend the Capital provision and increase the Authorised Share Capital.

For the quarter ended on September 30, 2022, the company reported a profit after tax at Rs 8.26 crore, with a total income of Rs 9.92 crore and an EPS of Rs 6.49 per share.