Concord Biotech sets Wednesday as record date for bonus issue
The bio-pharmaceutical components manufacturer has approved a 1:1 bonus share ratio for its eligible investors.
Concord Biotech Limited has fixed Wednesday, November 4, as the record date for its upcoming bonus share issuance, according to Mint.
The company's board of directors approved a bonus issue in a 1:1 ratio. This means shareholders will get one additional equity share for every one fully paid up share they currently hold.
To qualify for the payout, investors must own the stock by Tuesday, November 3. The issuance of these additional shares remains subject to regulatory and statutory approvals.
The stock closed 1.25 per cent higher at ₹1,245.30 on the BSE on Friday, October 30. The company has a market capitalisation of ₹13,027.86 crore.
Concord Biotech listed on exchanges in August 2023 with an issue price of ₹741 per share. The stock has gained nearly 68 per cent since its IPO.