Shares of Garware Technical Fibres are set to draw attention in Thursday’s session as the stock approaches its record date for a 4:1 bonus share issuance scheduled for tomorrow.
Today is the final opportunity to purchase Garware Technical Fibres shares to be eligible for the bonus issue. Investors who own shares by the record date, January 3, 2025, will receive four bonus shares for every 1 share they hold.
The company announced in an exchange filing that it has received approval from BSE Limited to issue 7,94,12,676 bonus equity shares. These will be issued in a 4:1 ratio, meaning shareholders will receive 4 new fully paid-up shares of ₹10 each for every 1 share they already own. The record date to determine eligible shareholders is Friday, January 3, 2025.
This is the first time Garware Technical Fibres is offering a bonus issue.
Garware Technical Fibres has delivered an impressive 41% gain in its share price over the last year, including in the current calendar year 2024.
Founded in 1976, Garware-Wall Ropes (GWRL) is a top company in India’s technical textiles industry. It offers specialised products and solutions for the cordage and infrastructure sectors globally. The company produces high-quality polymer ropes, fishing and sports nets, safety nets, aquaculture cages, coated fabrics, agricultural netting, and geosynthetics.
Garware Technical Fibres share price opened at ₹4,709.95 and reached a high of ₹4,710.00 during trading on January 2, 2025.
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.
Published on: Jan 2, 2025, 9:35 AM IST
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