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The respective boards of select listed companies are likely to announce bonus of shares and stock split in few weeks. As per the latest communication by 3 companies — IPCA Laboratories, Hinduja Global Solutions and SBC Exports have informed Indian stock market exchanges that they are going to discuss stock bonus or stock split in their upcoming board meeting.
1] IPCA Laboratories: This Mumbai-based Indian multinational pharmaceutical company is yet to announce any bonus but the board of this company has approved stock split in 1:1 and has fixed 11th January 2022 as record date for stock split.
IPCA Lab management informed about the stock split development in its latest communication with BSE citing, "Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that the Board of Directors of the Company at their meeting held today have decided to fix Tuesday, 11th January, 2022, as the ‘Record Date’ for the Members entitlement of sub-divided shares. Each fully paid-up equity share of Rs.2/- each of the Company is being sub-divided into 2 fully paid-up equity shares of Re. 1/- each, pursuant to the Resolution passed by the members of the Company at the Extra-Ordinary General Meeting held on 16th December, 2021."
2] Hinduja Global Solutions: The IT company hasn't announced any share split decision but it has informed exchanges about its mood to announce possible share bonus and an interim dividend.
The IT service management company informed about this possibility in its latest communication with the Indian exchanges citing, "This is to inform that a Meeting of the Board of Directors of Hinduja Global Solutions Limited will be held on Thursday, January 6, 2022, inter-alia, to consider declaration of interim dividend, if any, for the financial year 2021-22; and proposal for declaration of Bonus Issue of Equity Shares."
3] SBC Exports: This Ghaziabad-based company has informed Indian exchanges about the possible discussion on issuance of bonus shares and split of equity shares of the company in its scheduled board meeting on 7th January 2022.
SBC Exports management informed in its latest communication to Indian exchanges and said, "We wish to inform you that the a meeting of the Board of Directors of the Company will be scheduled to held at shorter notice on Friday, 7th January, 2022 at 4.00 P.M. at the Corporate office of the Company i.e. 49/95 Site-IV Sahibabad Industrial Area Ghaziabad, Uttar Pradesh-201010 to transact, inter-alia, consider and approve the following business: 1. To increase in authorized share capital of the Company and subsequent alteration to the Memorandum of Association of the Company; 2. To Alter Articles of Association of the Company in order to Issue of Bonus Shares by way of Capitalization of Reserves, if any required; 3. To recommend and approve Issue of Bonus shares to the equity shareholders of the Company; 4. To consider Split of Equity shares of the Company; and 5. To discuss any other business with the permission of the Chair."
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