Kitex Garments Bonus Share: Garment and apparel sector company Kitex Garments It is distributing bonus shares to its shareholders in the ratio of 2:1. This means that shareholders will get 2 new shares as a bonus for every share of the company they hold. The record date for this is 17 January 2025. The bonus share was announced on November 22, 2024. Kitex Garments, incorporated in the year 1992, manufactures cotton and organic cotton garments, especially children’s wear, and exports them to the markets of America and Europe.
The company serves many large business groups in the US and European markets, such as Gerber Childrenswear LLC, Carter’s, Carter’s Brands, H&O Fashions, Bye-Bye Baby, Ross Stores, Amazon, Target, Sam’s Club, Walmart. Its subsidiary Kitex USA LLC markets the licensed brand Lamaze and the company’s brand, Little Star infantswear in the United States and Canada. Its subsidiaries include Kitex Littlewear Limited, Kitex Babywear Limited, Kitex Kidswear Limited, Kitex Knits Limited, Kitex Packs Limited and Kitex Socks Limited.
Trading of Kitex Garments bonus shares from January 21
Under the bonus issue, the company will allot a total of 13,30,00,000 equity shares. Bonus shares will be allotted on January 20 and can be traded from January 21. Kitex Garments had earlier distributed bonus shares in the year 2017. At that time, shareholders got 2 new shares as bonus for every 5 shares held by them. The share price of Kitex Garments closed at Rs 689.85 on BSE on Friday, January 10. The face value of the share is Rs 1.
Shares strengthened 220% in 6 months
The market cap of Kitex Garments is more than Rs 4,500 crore. According to BSE, the share price has strengthened by 190 percent in a year and by 220 percent in just 6 months. Promoters held 56.66 percent stake in the company by the end of September 2024.
According to data available on BSE, the company’s standalone revenue in the July-September 2024 quarter stood at Rs 215.88 crore. During this period, standalone net profit was recorded at Rs 39.94 crore. Kitex Garments’ standalone revenue in FY2024 was Rs 616.92 crore and standalone net profit was Rs 68.19 crore.