4:1 Bonus Shares: Garware Technical Fibres Announces First-Ever Bonus Issue; Know Record Date

Garware Technical Fibres Ltd (GTFL) is a prominent player in the technical textiles sector. The company specialises in providing customised solutions to the cordage and infrastructure industries across the globe. Its diversified product portfolio includes applications in fisheries, aquaculture, shipping, sports, agriculture, coated fabrics, and geo-synthetics.

Board Approval for Bonus Shares

Garware Technical Fibres has received approval from its board of directors for the issuance of 7,94,12,676 bonus equity shares. Each share carries a face value of ₹10. This marks the first-ever bonus issue by the company, reflecting its robust financial health and strong reserves.

Bonus Issue Details

• Ratio: Shareholders will receive 4 new shares for every 1 existing share held.
• Capitalisation: The company will capitalise up to ₹79.41 crore from its general reserve, based on the audited financials for the year ended March 31, 2024.

Key Dates for Bonus Shares

1. Record Date:

   • The record date to determine eligibility for the bonus issue is set for January 3, 2025.
   • Shareholders must ensure their shares are held in a demat account by this date to qualify.

2. Bonus Credit Date:

   • Bonus shares are expected to be credited to eligible shareholders’ demat accounts by January 13, 2025.

Share Price Movement

Following the announcement, Garware Technical Fibres’ share price experienced a notable surge. On Thursday, December 26, the stock traded 4.70% higher on the NSE, marking an intraday high of ₹4,600.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions. 

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