Logistics services provider Lancer to consider bonus shares for investors
It was incorporated in 2011, Lancer Container is a leading integrated and logistics solution provider, offering services to over 70 ports covering more than 30 countries.
Logistics solution provider Lancer Container Lines has informed exchanges that the board could announce bonus shares. The company in a filing said that the proposal to issue bonus shares will have announced at the next scheduled meeting on August 10.
"To recommend and approve the issue of bonus shares to the existing equity shareholders of the company. To consider and fix the record date for bonus issue," the company said in a BSE filing.
A bonus share is nothing but an additional share that a listed company issues to its existing shareholders. It is done to increase the liquidity in the stock and make the stock affordable for small traders and investors as its market price is adjusted in the ratio of bonus. As a result, the total number of outstanding shares in the market goes up and it helps the company to widen shareholders' base.
A bonus share is issued without altering the face value of the stock and also it has no impact on the market capitalization.
It was incorporated in 2011, Lancer Container is a leading integrated and logistics solution provider, offering services to over 70 ports covering more than 30 countries.
Lancer Container is a small-cap stock with a market cap of Rs 1286 crore. Its shares have delivered a massive return of over 750 per cent in the last two years, according to information available on BSE.
According to shareholding pattern, promoters have 52.56 per cent stake in the company as on July 31, 2023, while FIIs increased their stake in the company by nearly 2 per cent to 19.44 per cent from June. Non-institutional investors have 28 per cent stake.
Notably, the logistics companies are on a solid run ever since the Modi government launched the National Logistics Policy. Logistics are crucial for any business and accounts for 14 per cent of India’s GDP, almost double of what the costs are in developed economies.
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02:30 PM IST