The board of two companies Precision Wires India and RPP Infra Projects will consider issuing preferential shares today. Shares of Supreme Petrochem will go ex-split today. Two companies Rama Steel Tubes and Globe Multi Ventures will go ex-bonus today. While Jagran Prakashan will go ex-share buyback, Pioneer Distilleries will go ex-amalgamation today.
Precision Wires India had in a filing on BSE on January 2 said: "A meeting of the board of directors (the "Board") of the Precision Wires India Limited is scheduled to be held on Friday, January 6, 2023, to inter alia consider a proposal for issuance of equity shares by way of a preferential allotment, in accordance with the provisions of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 and the Companies Act, 2013, as amended, subject to such regulatory/ statutory and other approvals as may be required," it said.
The board of Precision Wires India would also consider convening an extra-ordinary general meeting/postal ballot process to seek approval of the shareholders in respect of the aforesaid proposal of fund raising, as required.
In the case of RPP Infra Projects, the company on January 3 said its board would consider and approve raising of funds through issue of one or more instruments, including equity shares, convertible securities and/ or warrants or through preferential issue and/ or private placement subject to shareholders approval.
Supreme Petrochem will go ex-stock split today from a face value of Rs 4 to face value of Rs 2. For Jagran Prakashan, today is the record date for determining the buyback entitlement and the names of the eligible shareholders. The company had announced buyback, not exceeding 4,60,00,000 shares, at a price of Rs 75 apiece through the tender offer route.
Meanwhile Rama Steel Tubes and Globe Multi Ventures (erstwhile Globe Commercials) are two multibagger stocks, which will go ex-bonus today. Globe Multi Venture had announced bonus in the ratio of 1:1. Rama Steel Tubes shares had announced bonus in the 4:1 ratio.
In the case of Globe Multi Ventures, the record date fixed for the bonus issue was revised from December 22 to January 7. The company recently approved increase of authorised share capital from Rs 5.95 lakh to Rs 10 crore, which was required consequent to issue of bonus shares and accordingly.
In the case of Rama Steel Tubes, the company has set January 6 as the record date, for the purpose of ascertaining the eligibility of shareholders entitled for issuance of bonus shares.
Data showed shares of Rama Steel Tubes have jumped 110 per cent in the last one year. Shares of Globe Commercials have gained 190 per cent during the same period.
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