This NBFC company declares 2:1 bonus shares - Do you own it?

Also, the board of directors of the company approved the sub-division of one equity share into 10.

The company has yet to decide the record date.

Non-Banking Financial Company (NBFC) Standard Capital Markets Limited has announced bonus shares in the ratio of 2:1. This means that eligible shareholders will get two bonus shares for each share they have. However, this is subject to the approval of members of the Company by Extraordinary General Meeting. The announcement was made after the meeting of the board of directors of the company on Friday. The company has yet to decide the record date.

"Bonus Issue of Equity Shares in the ratio of 2:1 i.e., 2 Equity Shares of ₹ 1/- each for every 1 Equity Share of ₹ 1/- each held by the shareholders of the Company as on the Record Date (to be determined by the Board and will be intimated to the exchange)" the company said in an exchange filing.

Also, the board of directors of the company approved the sub-division of one equity share into 10. According to the company, the decision has been taken to widen the shareholder base and to make the shares more affordable to small investors.

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"Sub-division of 1 equity share of the Company having a face value of ₹10/- each into 10 (Ten) equity shares having a face value of ₹1/- each subject to regulatory/statutory approvals as may be required and the approval of the shareholders of the Company," the company said.

The company, which has a market capitalisation of Rs 272.29 crore, has also approved the appointment of Divya Kwatra as a non-executive and independent director, subject to the approval of members of the company by the extraordinary general meeting.

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Bonus Shares stock split