3:1 Bonus Shares: October 9 Record Date; Buy To Get 3 New Shares For 1 Held?

The top overseas education consultant in India for MBBS, engineering, business management, and other study-abroad programs is Moxsh Overseas Educon. Moxsh Overseas Educon has operations in more than 30 Indian places and has placed students in countries like as China, Russia, Ukraine, and Georgia. Following the company's announcement of the record date for 3:1 bonus shares, Moxsh Overseas Educon's shares closed 3.55% higher on the NSE on Tuesday, closing at Rs 191 per share, with a market valuation of Rs 42.80 Cr.

Moxsh Overseas Educon Bonus Shares Record Date

"This is to inform you that pursuant to Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has fixed Wednesday, October 09, 2024 as the Record Date, for the purpose of ascertaining the eligibility of shareholders entitled for issuance of Bonus Equity Shares in the proportion of 3 (Three) Equity Shares of Rs. 10/- each for every 1 (One) existing Equity Share of Rs. 10/- each, subject to the approval of shareholders which is being obtained through Annual General Meeting," said Moxsh Overseas Educon in a stock exchange filing.

Moxsh Overseas Educon Bonus Shares Allotment Date

According to the company, on or before November 01, 2024, the bonus shares will be credited/dispatched to the eligible shareholders.

67,22,400 equity shares would be issued as bonus shares and the bonus equity shares will be issued out of the securities premium account of the company available as of March 31, 2024. Rs. 672.24 Lakhs is the free reserves and/ or share premium required for implementing the bonus issue whereas Rs. 790.84 Lakhs is the free reserves and/ or share premium available for capitalization as of March 31, 2024.

The pre-bonus paid-up equity share capital is Rs. 2,24,08,000 consisting of 22,40,800 equity shares of Rs. 10/- each, while the post-bonus paid-up equity share capital, is expected to be around Rs. 8,96,32,000 consisting of 89,63,200 equity shares of Rs. 10/- each, Moxsh Overseas Educon said in a regulatory filing.

Moxsh Overseas Educon Share Price Target

"Moxsh Overseas is bearish on the Daily charts with strong resistance at 194.15. A Daily close below support of 176 could lead to a target of 162 in the near term," recommended A R Ramachandran, Independent Research Analyst.

Disclaimer

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