The company had earlier announced a bonus issue to investors in the proportion of 1:1, which means, for every share held, investors will get an additional bonus share.
The record date to determine the eligibility of shareholders for the proposed bonus issue has been fixed as August 22.
The bonus shares once allotted will rank pari‐passu in all respects and carry the same rights as the existing equity shares and will be entitled to participate in full in any dividend and other corporate actions recommended.
The bonus equity shares will be issued out of the securities premium account or free reserves of the company.
A company issues bonus shares for its shareholders in order to increase the liquidity of the stock as well as with the aim to decrease its stock price to make it affordable for investors.
Bonus shares are fully paid additional shares issued by a company to its existing shareholders. When a firm issues bonus shares, its shareholders do not have to incur any extra costs to get them. The number of bonus shares you receive depends on the number of shares of the firm you already hold.All shareholders who own shares of the firm before the record date, which is determined by the firm, are eligible for additional shares.
Veer Global Infraconstruction is a real-estate developer. The company’s spectrum of developments spans multiple segments like residential projects, business and retail properties, integrated townships and commercial plazas.
Its core business operations feature varied aspects of a construction business, such as location identification, acquisition, project planning, designing and development.
The company’s shares have risen nearly 180% so far this year, while the price soared 1,800% in the last five years.
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