Bonus Shares of 1:4 - 14 October Record Date; Buy For 1 Free Share For 4 Existing?

Aurangabad Distillery Limited is one of the primary makers of Rectified Spirit, Denatured Spirit, Neutral Alcohol, Potash, Bio-potash and De-potashed vinnasses. The distillery facility spread across 40 acres, located in Walchandnagar, Maharashtra, is where the firm produces its products. Following the company's announcement of record date 1:4 bonus shares, Aurangabad Distillery's shares closed 9.30% higher on Tuesday at Rs 385 per share on the NSE, giving it a market valuation of Rs 315.70 Cr.

Aurangabad Distillery Bonus Shares Record Date

"In compliance with Regulation 42 of SEBI (LODR) Regulations, 2015, it is hereby informed that the Company has fixed Monday, 14th October, 2024 as the record date for the purpose of determining the members, eligible for issuance of bonus shares in the proportion of 1:4 i.e. 1 (one) new fully paid-up equity shares for every 4 (four) existing fully paid-up equity shares held as approved by the shareholders. (*Equity Shares being fractional shares will be ignored and no allotment will be made for the fractional Equity Shares)," said Aurangabad Distillery in a stock exchange filing.

Aurangabad Distillery Bonus Shares Allotment Date

By 02nd November, 2024 is the estimated date by which such bonus shares would be credited/dispatched.

20,50,000 equity shares having face value of Rs. 10/- each is the total number of securities proposed to be issued as a part of bonus shares. The bonus equity shares will be issued out of free reserves and Securities Premium accounts available based on 31st March, 2024. The free reserves and security premium of Rs. 2,05,00,000 is required for the implementation of the bonus issue.

The company's pre-bonus paid-up share capital comprises 82,00,000 equity shares amounting to Rs 8,20,00,000 while post-bonus paid-up share capital comprises 1,02,50,000 equity shares amounting to Rs 10,20,50,000.

Aurangabad Distillery Share Price Target

"Aurangabad Distilleries is bearish on the Daily charts with strong resistance at 356.15. A Daily close below support of 350 could lead to a target of 334 in the near term," predicted A R Ramachandran, Independent Research Analyst.

Disclaimer

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