Sonata Software allots 35,053,102 bonus shares; Stock sheds over 1.5%

The current market cap of the company is Rs8,120.40 crore.

September 14, 2022 11:20 IST | India Infoline News Service
The Share Allotment Committee of Board of Directors of Sonata Software Limited at its Meeting held on September 12, 2022, allotted 35,053,102 (Thirty-five million and fifty-three thousand one hundred and two) Equity Shares of Re. 1/- (Rupee One only) each, credited as fully paid as bonus equity shares to the eligible Members of the Company whose names appear in the Register of Members of the Company / List of Beneficial Owners as on the Record Date i.e. Saturday, September 10, 2022 in the ratio of 01 (One) new fully paid-up equity share for every 03 (Three) existing fully paid-up equity shares (1:3).

Consequently, the paid - up equity share capital of the Company stands increased from Rs105,159,306 divided into 105,159,306 equity shares of Re. 1/- each to Rs140,212,408 divided into 140,212,408 equity shares of Re. 1/- each. The bonus equity shares allotted shall rank pari-passu in all respects with the fully paid-up equity shares of the Company.

As part of the aforesaid allotment, 38,058 (rounded-off) bonus equity shares representing fractional entitlements of eligible Members have been consolidated and the Company has made suitable arrangement in this regard. Such equity shares would be sold at the prevailing market rate as soon as possible and distribute the net sale proceeds among the eligible members in proportion to their respective fractional entitlements, the company said.

The bonus equity shares shall be credited/dispatched to the eligible shareholders as the case maybe, within the statutory and regulatory timelines, it added.

At around 11:17 AM, Sonata Software Ltd is currently trading at Rs569.65 per share down by Rs9.5 or 1.64% from its previous closing of Rs579.15 per share on the BSE.

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