Redtape rises after board OKs bonus issue, interim dividend

Redtape added 2.32% to Rs 889.45 after the company's board approved the 3:1 bouns issue and interim dividend of Rs 2 per equity share for financial year 2024-2025.

The company will issue three new fully equity shares of Rs 2 each for every one existing fully paid-up equity share of Rs 2 each. Its board will issue 41,46,05,700 equity shares of Rs 2 each would be issued as bonus shares.

Further the company has declared interim dividend of Rs 2 per share for FY25. On 20th December 2024, the company has been fixed record date as Friday, 3 January 2025 for interim dividend.

 

Redtape is engaged in the business of retail sale of Footwear, Garments & apparels and allied products and is also a manufacturer of footwear.

The companys consolidated net profit declined 9.63% to Rs 25.07 crore in Q2 FY25 as compared with Rs 27.74 crore in Q2 FY24. Revenue from operations jumped 28.05% YoY to Rs 415.80 crore in Q2 FY25.

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