4:1 Bonus Shares: Sakuma Exports recommend bonus - Check ratio and other details

4:1 Bonus Shares: Sakuma Exports has informed exchanges that its board of directors has approved the issuance of bonus shares and fund-raising through a Qualified Institutions Placement (QIP).

According to the information shared, the company has approved the issuance of bonus shares in a 4:1 ratio. This means, the investors will get four new fully paid-up equity shares of Rs 1 each for every one existing fully paid-up equity share of Rs 1 each. However, this is subject to shareholder approval.

"Approved Issue of Bonus Shares by way of capitalization of Capital redemption Reserves, Securities Premium Account and General Reserves account as of 31st March 2024 to the equity shareholders of the Company in the ratio of 4: 1 i.e., 4 (Four) new fully paid-up Equity Shares of Re. 1/- (Rupee One only) each for every 1 (One) existing fully paid-up Equity Share of Re. 1/- each held by the eligible shareholders as on the Record Date," according to a stock exchange filing.

The board of the company has also given the go-ahead to raise up to Rs 500 crores through Qualified Institutions Placement (QIP) and other permissible modes.  

To attract more international investors, the board has also approved increasing the foreign investment limit to 49 per cent of the total paid-up capital.