Dolphin Rubbers Ltd, which has given investors multibagger returns in the past one year, today said its board will meet on March 28 to consider and approve the bonus issue of shares.
The board of the company will also consider increasing the authorized share capital. 8 crore to 10.2 crore during the meeting.
In addition, the board will also take up the proposal for migration and listing of equity shares of the company from the BSE SME platform to the main boards of BSE and NSE.
Shares of Dolphin Rubbers closed with a gain of 9.5 per cent on Friday 102 on BSE SME Platform. So far in 2022, the company’s stock has increased by 43.06% (year-to-date). Over the past year, however, the stock has given investors huge returns, rising over 100%.
Established in 1995, Dolphin started its journey of tube manufacturing in the year 1997. It has established one of the largest networks in almost every corner of India. The company is engaged in manufacturing of all types of Auto and Animal Driven (ADV) Tubes supporting the Tire Tube Industry near Ludhiana (Punjab).
The company’s products are also available in Bangladesh, Bhutan, Egypt, Nepal, Pakistan and Sri Lanka.
bonus issue
When a firm issues bonus shares, its shareholders do not incur any additional costs for receiving them. The number of bonus shares you will receive depends on the number of shares in the firm that you already hold.
All the shareholders who hold shares of the firm before the ex-date fixed by the firm are eligible for bonus shares.
Bonus issue is as per on record data, subject to members’ approval and other approvals, consents and conditions as required.
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