Bonus shares are additional, fully paid shares the firm issues to its current owners. Recently, Alphalogic Techsys Limited declared that its board has authorised and encouraged the issuance of bonus shares to the company’s current shareholders. The bonus shares will be distributed in a 1:2 ratio, meaning that one bonus share would be given for every two company shares. The business has not yet disclosed the record date for issuing bonus shares. Bonus shares are additional, fully paid shares the firm issues to its existing owners.
“Recommendation for the issuing of completely paid-up Bonus Shares in the ratio of 1:2, or 1 (one) Equity Share for every 2 (two) fully paid-up Equity Shares, each worth 05. The Company will notify shareholders of the record date for deciding who is eligible to earn bonus shares in due course, “Alphalogic Techsys disclosed in a filing with the exchange
The business also disclosed that its board had approved preferentially issuing convertible warrants to raise money for the business. The company intends to issue 15,32,780 convertible warrants for 39.15 per unit to raise a total of 6,00,00,507 in currency. Alphalogic Techsys Limited creates software. The business offers web development, consultancy, and business information services in addition to designing and developing web and mobile applications. Between May 2021 and August 4th, 2022, a period of one year, the price of this small-cap multibagger stock soared from about $10.97 to $43.75.
To assist with the fundraising and bonus issue, the firm’s board of directors approved an increase in the company’s authorised capital from 14 to 21 crores.