Bharat Global Developers share price was locked in at 5% upper circuit on Monday after the company announced a bonus issue of shares along with a stock split. Bharat Global Developers shares were frozen at its 52-week high of ₹1,210.40 apiece on the BSE.
Bharat Global Developers Bonus Issue
Bharat Global Developers said its board of directors approved the issue of bonus shares to enhance share liquidity, increase affordability, and broaden shareholder participation. Bharat Global Developers’ board declared bonus share issue in the ratio of 8:10, i.e. 8 (eight) new bonus equity shares of ₹10 each for every 10 (ten) existing equity shares of ₹10 each fully paid up.
The company has yet not announced the Record Date for the bonus issue.
The Bonus Issue of equity shares is subject to approval of the shareholders and other applicable statutory and regulatory approvals, as may be required, the company said in a BSE filing.
Bharat Global Developers Stock Split
The board of directors of Bharat Global Developers also recommended sub-division of equity shares to face value of ₹1 per equity share from the existing face value of ₹10 per equity shares. This means every one existing share will be split into 10 shares.
Bharat Global Developers said the funds raised and allocated will be utilized to support the company’s ongoing and future projects, particularly in high-potential sectors such as AgriTech, Defense, and Green Energy.
The Board will actively consider the declaration of a dividend in upcoming quarters, subject to financial performance and operational requirements, it added.
Bharat Global Developers Stock Price Update
Bharat Global Developers shares have given stellar returns to investors as they have rallied more than 21% in one week and over 31% in one month. Bharat Global Developers share price has delivered multibagger returns of over 591% in three months and more than 2,100% year-to-date (YTD).
Bharat Global Developers stock has jumped by a staggering 5,500% in the past one year period.
At 1:35 pm, Bharat Global Developers shares still locked at 5% upper circuit at ₹1,210.40 on the BSE.