Aarti Drugs leaps 15%, hits new high as board approves 3:1 bonus shares

The company will intimate the "Record Date" for determining eligible shareholders entitled to receive bonus shares in due course

Shares of Aarti Drugs surged as much as 15.73 per cent to a lifetime high of Rs 2,790 on the BSE on Thursday after the company's board approved issuing 3 bonus equity shares for every one fully paid-up equity share held.

"The Board of Directors has approved the following subject to approval of the Shareholders: a) Increase in authorized share capital of the Company from Rs. 25,00,00,000/- to Rs. 120,00,00,000/- by creation of additional 9,50,00,000 Equity Shares of Rs. 10/- (Rupees Ten only) each. b) the issuance of fully paid up Bonus Share in the ratio of 3:1," the company said