Bonus Alert: Jindal Worldwide Limited, a Jindal Group companyJindal Worldwide) has announced the bonus issue today on January 7. The company will issue bonus shares to its shareholders in the ratio of 4:1. This means that eligible shareholders will be issued 4 bonus shares for one share. Amid this news, a strong rise of 7.36 percent was seen in the company’s shares. This stock closed at Rs 446.25 on BSE. The market cap of the company is Rs 8948.22 crore. This stock has given a strong return of 611 percent to its investors in 5 years.
Jindal Worldwide gave information in exchange filing
Jindal Worldwide said in an exchange filing that eligible shareholders will be issued 4 new fully paid-up shares of Re 1 for every existing fully paid-up equity share of Re 1 on the record date. The company said it will issue the bonus shares from the company’s free reserve and/or securities premium account by March 31, 2024. The decision, approved by the Board of Directors, is subject to shareholders’ approval through postal ballot.
Jindal Worldwide also plans to increase its authorized share capital and make necessary changes in the capital clause of its memorandum of association. After the bonus issue, the paid-up share capital of Jindal Worldwide will increase to ₹100.26 crore, consisting of 100,26,02,000 fully paid-up equity shares.
The current paid-up capital is ₹20.05 crore, consisting of 20,05,20,400 shares. The bonus shares are expected to be credited to shareholders by March 6, 2025, within two months of Board approval.
About Jindal Worldwide
Established in 1952, Jindal Worldwide is part of the ₹18000 crore BC Jindal Group. The company’s two major factories are located in West Bengal. Apart from its strong presence in the Indian market, Jindal India also exports steel products to Latin America and Far East (East Asia), making it a significant player in the domestic and international steel industry.
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