Vikram Thermo skyrockets ~16% as board approves bonus issue

1 Apr 2022 , 02:48 PM

Vikram Thermo’s counter gained as much as 16% in today’s trade touching a high of Rs233 following the company’s announcement to issue bonus shares to the shareholders.

The company has approved the issue of bonus shares in the ratio of 4 bonus shares for every one equity share held by the shareholders in the company, subject to necessary approvals from various authorities and shareholders.

The company will issue 2,50,86,280 equity shares of Rs10 each amounting to Rs25.09 crore.

Bonus shares shall be issued out of free reserves created out of profits or share of profits or share premium account available as on premium account.

In the same meeting, the company also approved the appointment of M/s. A Shah & Associates, Practicing Company Secretary to act as a Scrutinizer to conduct the postal ballot truly and fairly.

Vikram Thermo’s stock was currently trading 12.59% higher at Rs220.05, as against the previous close of Rs195.45 on BSE.