In a move that is set to delight its shareholders, Gradiente, a prominent player in the business landscape, has announced a substantial Independence Day bonanza. On the verge of the country’s Independence Day celebration, Gradiente unveiled its plans to reward its valued shareholders by extending bonus shares.
The company’s board of directors convened and wholeheartedly endorsed the notion of a bonus issue. As per the board’s decision, shareholders of Gradiente are in for an exciting proposition: a bonus issue of 1 equity share for every 3 equity shares already held by them. This move, which stands as a testament to the company’s commitment to its shareholders, signifies an appreciation of their loyalty and trust.
It’s important to note that the issuance of bonus equity shares will be contingent upon the shareholders’ approval, as well as the required regulatory and statutory clearances. However, the potential benefits are far-reaching. These newly allotted bonus shares will be on equal footing with existing equity shares in all respects. They will possess equivalent rights and will be entitled to partake fully in any dividends or other corporate actions that may be recommended and announced after the distribution of the new equity shares.
The quantum of bonus shares to be issued is substantial, with Gradiente gearing up to allocate a maximum of 1,31,41,667 additional equity shares to its deserving shareholders.
The strategic move towards bonus shares has also prompted the company’s board of directors to deliberate on augmenting the authorized share capital of Gradiente. The current authorized share capital, standing at Rs. 42,00,00,000/- (Rupees Forty-two Crores Only), divided into 4,20,00,000 (Four Crores Twenty Lakhs) Equity Shares of Rs. 10/- (Rupees Ten Only) each, is proposed to be augmented to Rs. 55,00,00,000/- (Rupees Fifty-Five Crores Only). This augmentation will be divided into 5,50,00,000 (Five Crore Fifty Lakhs) Equity Shares of Rs. 10/- (Rupees Ten Only) each. This strategic move is underlined by the need to accommodate the forthcoming bonus issue and is subjected to the endorsement of the shareholders.
Gradiente’s bold steps in issuing bonus shares and expanding its authorized share capital underscores its commitment to fostering shareholder value and capitalizing on its growth trajectory. As shareholders eagerly await the final approvals, it is a clear indication that Gradiente is committed to nurturing a robust and mutually beneficial relationship with its investors.
