The Board of Directors of Smruthi Organics Ltd at their meeting held today, i.e., 16th January, 2O2L, has approved and recommended the issuance of Bonus shares of the company in the ratio of 2 (Two) new Bonus Equity Share of Rs. 10 each fully paid up to be issued for every 1 (One) existing Equity share of Rs. 10 each fully paid up held by the shareholders on the record date subject to the approval of the Shareholders by postal ballot / remote e-voting.
Equity shares of the Company are currently listed on BSE Limited and Metropolitan Stock Exchange of lndia Limited. However, due to small capital base, company's shares are permitted by BSE Ltd for trading under "Periodic Call Auction Session,, (pCAS). Therefore, for facilitating ease of trading, increasing liquidity, shareholder value and encouraging participation of investors, the company considers it necessary to enhance its paid-up share capital beyond Rs. 10 crores in order to get qualified for trading on the Main Trading Board of BSE Ltd.
The Company will intimate the "Record date" for determining eligible shareholders entitled to receive Bonus Shares, in due course.
The Board also recommended to shareholders, reclassification of unissued preference share capital into equity shares, increase the authorised share capital from Rs 10,00,00,000/- to Rs. 12,00,00,000/- and approve consequential alterations to the Memorandum of Association and Articles of Association.
Shares of Smruthi Organics Ltd was last trading in BSE at Rs.604.55 as compared to the previous close of Rs. 575.8. The total number of shares traded during the day was 13460 in over 110 trades.
The stock hit an intraday high of Rs. 604.55 and intraday low of 550. The net turnover during the day was Rs. 7537391.