SRF – Bonus Issue led adjustment in the stock price on 13th October, 2021.
The company had set record date of October 14, 2021 for bonus issue. The issuance of bonus remains at 4 equity share for 1 existing equity shares of 10/- each.
Impact on shares:
The share price would be adjusted accordingly as on ex-date. Share price will get adjusted by 80%, only 20% will remain as on 13th October 2021. Total outstanding shares of the company remains 6 crore presently, which will be increased to 30 crore post bonus issue.
Better demand outlook from the end user industries bodes well for the decent volume growth for key segments along with visibility of better realization owing to increase in the finish product prices, should aid earnings in the coming time. This in turn should support buying interest of the incremental free float shares (bonus issue would expand free float number of shares from 1.14 crore to 5.68 crore) from MFs, which can eventually support market price of the stock.
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