Ratnamani Metals -; Tubes completes allotment of 1:2 bonus issue; stock under pressure

6 Jul 2022 , 09:59 AM

Ratnamani Metals & Tubes Limited informed that the Share Allotment Committee of the Board of Directors of the Company, at its meeting held today i.e., July 5, 2022, has allotted 2,33,64,000 Equity Shares of Rs2 each as fully-paid up Bonus Equity Shares.

The shares have been allotted in the proportion of 1 Equity Share of Rs2 each for every 2 existing Equity Shares of Rs2 each, to the eligible Members whose names appeared in the Register of Members maintained by the Company.

The record date for this purpose has been fixed as ‘July 1, 2022’.

Post completion of this allotment, the company’s paid-up equity share capital has been increased from Rs9.35 crore divided into 4,67,28,000 Equity Shares of Rs2 each to Rs14.02 crore divided into 7,00,92,000 Equity Shares of Rs2 each.

At around 10.02 AM, Ratnamani Metals & Tubes was trading at Rs1,654.20 down by Rs10.3 or 0.62% from its previous closing of Rs1,664.50 on the BSE. The scrip opened at Rs1,674.35 and has touched intraday high and low of Rs1,680.20 and Rs1,643.15 respectively.