The FMCG company, Goel Food Products Ltd shares, hit a 20% upper circuit on 1 August after the company’s Board of Directors approved a bonus issue in a 4:1 ratio. 

In its regulatory filing, the company said that the board approved issuing of Bonus Shares at a 4:1 ratio. According to which, for each share that current shareholders held, the corporation would issue four bonus shares. A proposal has been made by the board to allocate 1,50,81,600 equity shares, valued at ₹10 each, as bonus shares.

According to the latest shareholding pattern, retail investors hold a 26.17% stake in the company, while promoters possess a 73.82% stake. 

Founded in 1996, the company operates in the hotel, catering, and banquet sectors and manages many banquet rooms, a hotel, a guest home, as well as Indian candy and snack shops.

Organising a variety of events, such as weddings, business meetings, and celebrations, is its specialty. With its retail locations, it sells Indian snacks and sweets. 

Goel Food Products produces and distributes traditional Indian sweets such as Bhujia, Rosogolla, and Sohan Papdi in addition to organising events. Entering the food product industry enhances its primary strengths of organising events and providing hospitality. 

At 1:38 pm, the shares of Goel Food were locked 20% higher at Rs 49.32 on BSE.

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