SBC Exports witnessed a 1% surge in its share price during early trade on December 6, following the approval of a bonus share issue by its board.
As of 9:24 am, the stock was quoted at Rs 32.27, marking a 1.48% increase on the BSE. The company, in a statement, announced, “The board has approved the issue of bonus shares in the ratio of one equity share for every two shares held by the existing equity shareholder of the company as on Record Date to be fixed in the meantime.”
The implementation of the bonus issue is contingent on shareholders’ approval through a postal ballot, along with other necessary statutory and regulatory clearances. This move aims to enhance shareholder value and is indicative of SBC Exports’ commitment to rewarding its investors.
