Newgen Software Technologies Ltd recommends 1:1 bonus issue

The Board of Directors of Newgen Software Technologies Limited at its meeting held today i.e. Monday, 27th November 2023 which commenced at 11:00 A.M. and concluded at 11:12 A.M. has considered and approved the increase in Authorized Share Capital of the Company from Rs.110,10,00,000/- (Rupees One Hundred Ten Crore and Ten Lakh only) to Rs. 180,10,00,000/- (Rupees One Hundred Eighty Crore and Ten Lakh only) and consequent amendment to the Capital Clause of the Memorandum of Association of the Company, subject to approval of Members of the Company through Postal Ballot.

The board recommended the issue of Bonus Shares in the proportion of 1:1 i.e. 1 (One) new fully paid-up bonus equity share of Rs.10/- (Rupees Ten only) each for every 1 (One) existing fully paid-up equity share of Rs.10/- (Rupees Ten only) each held by the Members of the Company as on the Record Date, subject to approval of the Members through Postal Ballot.

The Board has fixed Friday, 12th January 2024 as the Record Date, for the purpose of ascertaining the eligibility of Members entitled for issuance of Bonus Shares in the proportion of 1 (One) Equity Shares of Rs. 10/-each for every 1 (One) existing Equity Shares of Rs. 10/- each.

Shares of Newgen Software Technologies Limited was last trading in BSE at Rs. 1269.15 as compared to the previous close of Rs. 1300.65. The total number of shares traded during the day was 14591 in over 1236 trades.

The stock hit an intraday high of Rs. 1319.00 and intraday low of 1236.90. The net turnover during the day was Rs. 18614719.00.

Source : Equity Bulls

Keywords

NewgenSoftwareTechnologies INE619B01017 BonusIssue 1For1