Jobaaj Stories
FSN E-Commerce Ventures, the company behind the omnichannel platform, has announced that its Board has approved the bonus issue at a 1:5 ratio.
“We hereby inform that the Board at its Meeting held on October 03, 2022, inter alia, has approved bonus issue of equity shares in the proportion 5 (Five) fully paid-up equity share of Re 1/- each for every 1 (One) fully paid-up equity shares of Re 1/- each held by the shareholders of the company as on the record date, subject to shareholders’ approval by way of postal ballot," Nykaa informed in an exchange filing.
Electronics Mart's IPO coming up, should you invest?
For the purposes of the issue, the company has decided to set the record date for the same on November 3rd, 2022. The estimated date of the credit of bonus shares is two months from the date of Board approval i.e. by 2nd December 2022.
The board has also approved the reclassification of authorized share capital as such: The existing Rs 325 crores comprising 275 crore equity shares and 50 crore preference shares to Rs 325 crores comprising 325 crore equity shares, subject to shareholders’ approval by way of postal ballot.
Moreover, the company has also announced the setting up of 'FSN E-Commerce Ventures Limited Employee Stock Option Plan 2022' according to which Employee Stock Options will be granted to the eligible employees of the company and its group companies, including subsidiaries and associates.
Shares of the company jumped 11% to touch a high of Rs 1,414 per share before contracting yesterday as the announcement came during market hours. The stock closed at Rs 1,307.45 per share, marginally higher.
Article by Aman Agarwal.
This news piece is brought to you in association with jobaaj.com
