Rajnish Wellness board approves stock split; Stock hits 5% upper circuit

14 Jun 2022 , 09:21 AM

The board of directors of Rajnish Wellness Ltd at its meeting held on June 13, 2022 has approved the stock split and bonus issue.

As per the filing, the board has approved sub-division/split of equity shares of the Company from 1 equity share of Rs. 10/- each to 5 equity shares of Rs. 2/- each. Such sub-division/split will be subject to the approval of shareholders and other statutory approvals as may be required. The record date for sub-division/split shall be announed in due course, said the company.

In addition to the filing, the board also approved Bonus Issue of 25,61,58,220equity shares to existing shareholders of the Company in the ratio of 2:1 i.e. 2 equity shares of Rs.2/- each for every 1 existing equity share of Rs.2/- each, held by the members of the company as on Record Date. Such bonus issue shall be subject to the approval of members and other statutory approvals as may be required, it further added.

At around 9:23 AM, Rajnish Wellness was trading at Rs179.35 per piece higher by 4.98% as against previous closing of Rs170.85 per piece on the BSE.