Bondada Engg board grants nod to 1:5 stock-split

Bondada Engineering announced that its board has approved the sub-division of existing 1 equity share of the company having a face value of Rs 10 each, into 5 equity shares having a face value of Rs 2 each, subject to shareholder's approval.

The firm informed that the proposal to split share is to enhance the liquidity of the company's equity shares and encourage the participation of investors by making it more affordable.

Meanwhile, the companys board approved the allotment of 3,13,200 fully convertible equity warrants at an issue price of Rs 1,756 per warrant on a preferential basis to Dr. Faruk G. Patel.

Each warrant is convertible into one fully paid-up equity share of Rs 10 each on payment of the balance 75% of the total consideration.

Further, the board of directors recommended a final dividend of Rs 0.15 per equity share for the financial year ended 31 March 2024, subject to shareholders approval.

Bondada Engineering is a infrastructure company that provides engineering, procurement, and construction (EPC) services, as well as operations and maintenance (O&M) services to customers in the telecom and solar energy industries throughout India.

The company reported a consolidated net profit of Rs 46.30 crore, steeply higher than Rs 17.13 crore in Q4 FY24 over Q4 FY23. Revenue from operations soared 116.07% to Rs 800.72 crore in Q4 FY24 as compared to Rs 370.58 crore in Q4 FY23.

The scrip rose 0.17% to close at Rs 2,761.50 on the BSE.

Powered by Capital Market - Live News