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

Algoquant Fintech Limited has fixed Wednesday, January 8, 2025, as the record date to determine eligible shareholders 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.

The bonus issue stems from a Scheme of Arrangement among Growth Securities Private Limited (Demerged Company), Algoquant Investments Private Limited (Amalgamating Company), and Algoquant Fintech Limited (Resulting Company). The scheme was approved by the National Company Law Tribunal (NCLT) – Ahmedabad on October 3, 2024, under the provisions of the Companies Act, 2013.

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.

This bonus issue is a significant development in line with the company’s restructuring process, reflecting its commitment to rewarding shareholders following the successful arrangement between the involved entities.

About Algoquant Fintech Ltd

Algoquant Fintech Ltd was incorporated in 1983. The company is involved in the business of trading in financial instruments.

On January 6, 2025, Algoquant Fintech share price closed at ₹1,517.25, after touching the day’s high at ₹1,519.00 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.