Algoquant Fintech 1:2 Bonus Issue Record Date Today, January 8, 2025

Algoquant Fintech Limited has set today, i.e., January 8, 2025, as the record date for the allotment of bonus equity shares.

Bonus Issue Details

The bonus issue is being executed in the ratio of 1:2, meaning shareholders will receive one additional equity share for every two shares held.

Shareholders on this date are eligible to receive bonus shares in a 1:2 ratio, as per the approved Scheme of Arrangement.

The company will hold a Board of Directors meeting on Thursday, January 9, 2025, to approve the allotment of these bonus shares to shareholders as per the record date. The meeting will take place at the company’s corporate office at 10:30 AM IST.

Scheme of Arrangement

The Scheme of Arrangement includes Growth Securities Private Limited (demerged company), Algoquant Investments Private Limited (amalgamating company), and Algoquant Fintech Limited (resulting company). The scheme of agreement was sanctioned by the National Company Law Tribunal, Ahmedabad, on October 3, 2024, under relevant provisions of the Companies Act, 2013.

Algoquant Fintech Limited

Algoquant Fintech Ltd was established in 1983. It is involved in the trading of financial instruments. In the half-year ended September 30, 2024, the company’s total income from continuing operations was ₹3,821.97 lakh, which rose from ₹2,212.61 lakh during the same period in the previous year. The company’s profit after tax was ₹267.61 lakh, which increased from ₹90.72 lakh during the same period in the previous year.

On January 7, 2025, Algoquant Fintech share price closed at ₹1,534.60, after touching the day’s high at ₹1,549.95 on the BSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.