Get 4 Bonus Shares For Every 1 Held: 4:1 Bonus Issue, 31st January Record Date; BUY?

On December 9, 1981, Sangam Finserv Limited (formerly Suchitra Finance & Trading Co. Ltd.) was established as a public limited company. It is a Non-Banking Finance Company (NBFC) Non-Deposit accepting (ND-Non SI) under the Reserve Bank of India. The shares of the Company are listed on the Calcutta Stock Exchange (CSE) & Bombay Stock Exchange (BSE). Following the company's announcement of the record date for 4:1 bonus shares, Sangam Finserv's shares closed the day Wednesday 2% down at Rs 249 per share, with a market capitalisation of Rs 232.13 Cr.

Sangam Finserv Bonus Shares Record Date

"With reference to our previous intimation dated 14th December 2024 and on receipt of approval of shareholders at the Extraordinary General Meeting held on 09th January, 2025, for issue of bonus shares to the equity shareholders of the company in the proportion of 4 (Four) new fully paid-up equity share of Rs 10/- (Rupees Ten) each for every 1 (One) existing fully paid-up equity shares of Rs 10/- (Rupees Ten) each held by Members/Beneficial Owners. We wish to inform you that the Company has fixed Friday, 31st January 2025, as the "Record Date" to determine the eligibility of shareholders for issuance of the said Bonus Shares," said Sangam Finserv in a stock exchange filing.

Note For Physical Shareholders Regarding Bonus Shares

"Pursuant to SEBI (JCDR) (Second Amendment) Regulations, 2023 effective from 23.05.2023, the allotment of shares in bonus issue shall be made only in dematerialized form and thus, all the eligible members of the Company holding equity shares in physical mode are hereby advised to dematerialize their physical share certificates by contacting their respective Depository Participant (DP) on or before the Record Date for receipt of bonus equity shares in their respective beneficiary accounts. In case, shares of the Company are held in physical form as on the Record Date, the bonus equity shares so entitled, shall be transferred to the Suspense Account opened by the Company in this regard," Sangam Finserv informed stock exchanges.

Sangam Finserv Share Price Target

"Sangam Finserv stock price is bearish on the Daily charts with strong resistance at 259. A Daily close below support of 241 could lead to a target of 217 in the near term," commented A R Ramachandran, Independent Research Analyst.

Disclaimer

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