One of the multi-bagger stocks of 2023, the Gensol Engineering board has declared bonus shares in a 2:1 ratio, wherein eligible holders will be awarded two bonus shares for every one stock held.

The company informed the Indian bourses and said that the Board of Directors of the company, during its meeting on 5 September, have considered approving a bonus issue of 2 equity shares for every one share held by the shareholders of the company on the record date.

The company added that the bonus equity is subject to the approval of the Members through a General Meeting and any other necessary statutory and regulatory approvals required. The bonus shares issued will carry the same right as the existing equity share and will be entitled to participate in full in any dividend and other corporate action.

Before this, Gensol Engineering had recommended bonus shares to its shareholders in 2021. As per the available information, the company traded ex-bonus on 11 October 2021 for the issuance of bonus shares in a 1:3 ratio, which means one bonus share is issued for every three shareholdings.