Microcap stock split, bonus issue: Last day to buy for eligibility

Microcap stock Milkfood Ltd. approved a 1:1 bonus issue of shares, along with a subdivision of the company’s shares from a face value of Rs 10 per share to Rs 5 per share, earlier in June.

The record date for both the subdivision and bonus issue of shares was announced later in August, and it was set for August 13.

“We wish to inform you that the Company has fixed Tuesday, 13th August 2024 as the “Record date” for determining the eligibility of members for the purpose of sub-division of the equity shares of the Company from Face Value of Rs. 10/- each fully paid-up to Face Value of Rs. 5/- each fully paid-up and issuance of Bonus Shares in the ratio of 1:1,” the company said in a previous filing to the exchanges.

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This will be the company’s first instance of issuing bonus shares and conducting a stock split, according to data available on Trendlyne.As of August 9, the company’s market capitalization stands at approximately Rs 474 crore. The company has performed well, delivering returns of about 20% to its shareholders over the past year.According to BSE analytics, the stock has gained 40.3% in the past six months and has increased by nearly 10.4% just in the last week.
On BSE, the shares of Milkfood Ltd closed 0.7% higher at Rs 777.65 on Friday.

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