This Wood Coating Small Cap Company Declares Bonus Shares In Ratio Of 1:1

Sirca Paints Limited has announced that the board of company has approved issuing Bonus shares in the board meeting held on Wednesday March 29, 2023. The announcement was done through stock exchange filing. Given below are the details.

According to the exchange filing of the Sirca Paints Limited, the board has considered and approved to "increase in the authorized Share Capital of the Company from Rs 32 crore to Rs. 60 crore and corresponding amendment to the Clause V of Memorandum of Association of the Company, subject to approval of Members through Postal Ballot as per Section 110 of the Companies Act, 2013."

Further it was notified that the board has recommended to issue of Bonus Shares in the ratio of 1 :1 i.e. 1 Bonus equity share of Rs 10 each for every 1 fully paid-up equity share of Rs 10 each held by the Members of the Company as on the Record Date, subject to approval of the Members of the Company.

In meeting the directors of the company even fixed record date. "the company has fixed Wednesday, May 11, 2023 as the Record Date, for the purpose of ascertaining the eligibility of shareholders entitled for issuance of Bonus Equity Shares."

About Sirca Paints Limited

Sirca Paints Limited was originally incorporated in January 2006 as as Sircolor Wood Coatings Private Limited as an importer of PU products from Italy and Korea. Over the years it has transitioned into having an in-house manufacturing unit for melamine, NC products, and economical PU which adds to current product offerings for wood coatings. In 2017, the company was incorporated as Sirca Paints Limited to procure thinner, abrasives and buffing Cream from other suppliers based in India. It is a small cap company with headquarters in New Delhi and has a market capitalisation of Rs 1,763.75 crore.

Share Price details of Sirca Paints Limited

The latest market price of Sirca Private Limited is Rs 643.60 per share, it was up by 0.04% on intraday basis. Its 52-week high is at Rs 800 per share and 52-week low is at Rs 598.85 per share. In last 6 months the stock price has fallen by 9.63%.

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