Bonus issue record date: Aastha Spintex share price jumped over 7% on NSE in Monday’s trading session despite stock market crash. The stock opened at ₹37 per share today, as compared to previous close of ₹36.37 on Friday and surged to hit an intraday high of ₹39.21.
The stock rally came in as Monday, 28 September, marks as the record date for company’s bonus issue. The textile company has announced 1:1 bonus issue for investors on 16 September
Aastha Spintex bonus issue details
The company had set Monday, September 28, as the record date to determine the shareholders eligible to receive the payout.
The company’s board of directors had approved a 1:1 bonus issue. According to its BSE filing, eligible shareholders will receive one new fully paid-up equity share with a face value of ₹10 for every one existing fully paid-up equity share of ₹10 held.
This means shareholders holding the company’s shares as of the record date will be entitled to one bonus share for every one share held. To qualify, investors needed to have the shares in their demat accounts by the end of trading on Friday.
Investors purchasing the company’s shares today will not be eligible to receive the bonus shares.
This marks the company’s first announcement of a bonus share issue, coming within just three months of its stock market debut.
Aastha Spintex’s mainboard IPO was valued at ₹170 crore and comprised entirely of a fresh issue of shares. Aastha Spintex shares made a weak debut, listing 4.4% below their issue price of ₹136 per share.
Aastha Spintex share price performance
Aastha Spintex shares have shown mixed performance across different time frames. The stock has gained 4.07% over the past week, indicating some recovery in the near term. However, it has declined 2.99% over the past month, while the stock remains down 43.41% year-to-date (YTD) or since listing.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
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