Shares of Berger paints jumped 7% on 22 September as the stock is trading ex-bonus today.
The board of directors of Berger Paints have declared the issuance of bonus shares in a 1:5 ratio, wherein one bonus share with a face value of Rs 1 each is issued for every five shares with a face value of Rs 1 each held by the eligible shareholders of the company.
The company’s board has declared 23 September as the record date for the issuance of bonus shares on an ex-date basis.
The company informed the bourses about the bonus share record date citing, “This is to inform you that pursuant to Regulation 42 of the Securities and Exchange Board of India (Listing Obligations & Disclosure Requirements) Regulations, 2015, the Company has fixed Saturday, 23 September, 2023 as the “RECORD DATE”, for the purpose of ascertaining the eligibility of shareholders entitled for issue of Bonus Equity Shares of the Company in the ratio of 1:5, i.e., 1 (One) Equity Share of Re 1/- each for every 5 (Five) Equity Shares of Re. 1/- each, which was recommended by the Board of Directors of the Company vide its meeting held on Wednesday, 9 August, 2023 and for which approval of the shareholders have already been obtained through postal ballot on Friday, 8 September, 2023.”
The company announced the bonus shares while it announced its quarterly result for the April-June quarter of the current fiscal year.
At 3:30 pm, the shares of Berger Paints closed at Rs 670.70 or 6.85% above its previous close on NSE.