Torrent Pharma allots over 16.92 crore bonus equity shares; Stock trades higher

13 Jul 2022 , 02:40 PM

Torrent Pharmaceuticals Ltd has inform that the Company has allotted 16,92,22,720 Bonus equity shares of Rs5/- each on Wednesday.

The shares are allotted in the ratio 1: 1 i.e. 1 new fully paid-up equity share of Rs5/- each for every 1 fully paid-up equity share of Rs5/- each held by the members whose name appears in the Register of Members or in records of National Securities Depositories Limited or Central Depositories Services (India) Limited as the beneficial owners as on July 11, 2022, the Record Date fixed for this purpose .

Accordingly, the paid-up share capital of the Company has increased as follows:

Pre-allotment: 16,92,22, 720 equity shares of Rs5/- each amounting to Rs84,61,13,600 while post allotment: 33,84,45,440 equity shares of Rs5/- each amounting to Rs169,22,27,200.

As per the filing, the Bonus equity shares as allotted above shall rank pari-passu in all respects with the existing fully paid-up equity shares of the Company, with a right to participate in full in the dividend declared by the Company after the allotment of Bonus Shares.

At around 2:42 PM, Torrent Pharmaceuticals was trading at Rs1,486.75 per share up by Rs4.7 or 0.32% from its previous closing of Rs1,482.05 per share on the BSE.