The Board of Directors of Syngene International Ltd at its meeting held on April 24, 2019, has considered, approved and recommended the issue of Bonus Shares by capitalisation of free reserves in the ratio of 1:1 i.e., 1 (one) bonus equity share of Rs. 10/- each fully paid-up for every 1 (one) existing equity share of Rs. 10/- each held by the members, as on the record date.
The Company will intimate the "Record date" for determining eligible shareholders entitled to receive Bonus Shares, in due course.
The board recommend to shareholders, increase in the Authorised Share Capital of the Company from Rs. 250,00,00,000/- divided into 25,00,00,000 equity shares of Rs. 10/- each to Rs. 500,00,00,000/- divided into 50,00,00,000 equity shares of Rs. 10/- each and consequent amendment in the Capital Clause (Clause V) of Memorandum of Association of the Company.
The board has approved proposal to seek the approval of shareholders by way of Postal Ballot/e-voting, to increase the Authorised Share Capital and issue of Bonus Shares, as specified above.
Shares of Syngene International Ltd was last trading in BSE at Rs.601.15 as compared to the previous close of Rs. 597.1. The total number of shares traded during the day was 9847 in over 665 trades.
The stock hit an intraday high of Rs. 610.2 and intraday low of 598. The net turnover during the day was Rs. 5929513.