AU Small Finance Bank announces 1:1 bonus issue; stock slips ~5%

27 Apr 2022 , 10:26 AM

AU Small Finance Bank’s counter tumbled nearly 5% in today’s early morning trade post the company’s announcement of a bonus issue in the ratio of 1:1.

The company proposes to issue 31,49,00,031 equity shares of Rs10 each under the issue. The actual number of bonus equity shares to be issued will be determined based on the paid-up share capital as of the record date.

The company is planning to issue bonus shares out of the Share Premium Account available as of March 31, 2022.

The bonus ratio is decided at 1:1, this means, one equity share will be issued for every fully paid-up equity share held as on the record date.

The bonus shares once allotted shall rank pari-passu in all respects.

Post-bonus paid-up share capital is expected to be around Rs629.80 crore divided into 62,98,00,062 equity shares of Rs10 each.

This bonus issue consists of shares worth Rs314.90 crore approximately. 

AU Small Finance Bank is currently trading at Rs1,346.85 down by Rs69.15 or 4.88% from its previous closing of Rs1,416 on the BSE. The scrip opened at Rs1,415 and has touched intraday high and low of Rs1,415 and Rs1,339.85 respectively.