Gretex Corporate Services Limited, a small-cap company with a market capitalization of Rs. 31 crore, works in the financial industry. One of the financial and consulting organizations in India, Gretex Corporate Services provides services in IPO, Valuation and Corporate Advisory. The initial public offering (IPO) of Gretex Corporate Services Limited commenced on July 27, 2021, and the closing date of the issue was Friday, July 30, 2021. The firm was recognized by BSE as Top Volume Performer for SME IPO for FY 2021. After listing on BSE SME on 9th August, 2021. One year after listing, the company announced its first bonus share ratio of 8:1.
The company in a regulatory filing said that, the Board of Directors in its meeting held on 2nd September has recommended “an increase in the authorized share capital of the company from Rs. 1,20,00,000/- (One Crore Twenty Lakh only) to Rs. 12,00,000 (Twelve Lakh Only) of equity shares of Rs.10/- (Rupees Ten Only) each to Rs.11,00,000,000/- (Rupees Eleven Crore Only) 1,10,00,000 (Rupees One Crore Ten Lakh Only) Split Equity Shares of Rs.10/- (Rupees Ten Only) Each Ranking is at par with the existing Equity Shares of the Company.Recommended for issue up to 90,98,760 (Ninety Ninety Ninety Thousand Seven Hundred Sixty Only) Equity Shares of Rs. 10/- each in the form of Bonus Shares of aggregate nominal value up to Rs.9,09,87,600/- (Rupees Nine Crore Nine Lakh and Eighty Seven Thousand Six Hundred Only), as bonus shares to the shareholders from the Securities Premium Account of the Company. 10/- each company for distribution amongst the holders of existing fully paid-up equity shares in the form of Rs.
Bonus Share Description of Gretex Corporate Services
Here are the details of bonus shares that the company has disclosed in regulatory filings
Total number of securities proposed to be issued (approximately): 90,98,760 equity shares of Rs. 10/- each amounting to Rs. 9,09,87,600/-
Whether the bonus is out of the free reserve created out of profit or from the share premium account: Bonus shares will be issued out of securities premium available till March 31, 2022.
Bonus Ratio: 8 bonus equity shares of Rs. 10/- for every 1 fully paid-up equity share to be settled as on the record date. The Bonus Equity Shares once allotted shall be of equal status in all respects and shall have the same rights as the existing Equity Shares and shall be entitled to participate fully in any dividend and other corporate action recommended and declared after the allotment of the new Equity Shares. Will be
Ex Bonus: The authorized equity share capital of Rs. 1,20,00,000/- has a face value of Rs. 10/- per share. Issued equity share capital of Rs. 1,13,73,450/- has a face value of Rs. 10/- per share. The paid-up share capital of Rs. 1,13,73,450/- has a face value of Rs. 10/- per share.
The post-bonus paid-up share capital is expected to be around: around: The authorized equity share capital of Rs. 11,000,00,000/- has a face value of Rs. 10/- per share. Issued equity share capital of Rs. 10,23,61,050/- has a face value of Rs. 10/- per share. The paid-up share capital of Rs. 10,23,61,050/- has a face value of Rs. 10/- per share.
Free Reserve and/or Share Premium required to apply Bonus Issue: Security premium Rs. 9,09,87,600/- till March 31, 2022.
Free reserves available for capitalization and/or share premium and the date on which such balance is available: As on March 31, 2022, the security premium will be Rs. 11,08,57,505/- Free Reserve of Rs. (6,68,541)/- Total: Rs. 11,01,88,964/-.
Estimated date by which such bonus shares will be credited / remitted: Bonus shares will be credited/remitted within 60 days from the date of Board approval, i.e. by 31st October, 2022.
The closing price of Gretex Corporate Services shares was 274.30 each. The stock has gained 54.32 per cent since the listing. In the last 1 year, the stock has gained 47.55% and on YTD basis, the stock has climbed 32.64% so far in 2022.
catch all business News, market news, today’s fresh news events and breaking news Updates on Live Mint. download mint news app To get daily market updates.