APL Apollo Tubes allots 12.49cr equity shares under bonus issue; Stock dips 3%

The paid-up equity share capital of the company stands increased to ~Rs50cr comprising ~25cr equity shares of 2/- each.

Sep 21, 2021 10:09 IST India Infoline News Service

APL Apollo Tubes Limited has allotted 12,48,96,000 equity shares of the face value of Rs2/- each as fully-paid up bonus equity shares, in the ratio of one equity share of Rs2/- each for every one (1) existing equity share of %2/- each, to the Members whose names appeared in the Register of Members / List of beneficial owners as on September 18, 2021, being the record date fixed for that purpose.

Consequently, the paid-up Equity Share Capital of the Company stands increased from Rs24,97,92,000/- comprising 12,48,96,000 equity shares of Rs2/- each to 749 95,84,000/- comprising 24,97,92,000 equity shares of 2/- each.

Further, the company will make necessary arrangements to credit the bonus shares/dispatch the share certificates, as applicable, on or before October 5, 2021.

At around 10.56 am, APL Apollo Tubes Ltd was trading at Rs887.90 per piece down by Rs30.65 or 3.34% from its previous closing of Rs918.55 per piece on the BSE.

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