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Garware Technical has announced its first bonus share issue. Under this, shareholders will be issued four new shares in exchange for every existing share. The company is planning to raise capital up to ₹ 79.41 crore from its general reserve on the basis of the business year ending March 31, 2024. Approval has been received from the board for this. The record date for bonus shares to be issued to eligible shareholders is January 3, 2025.
To qualify for the bonus issue, shareholders must ensure that their shares are held in their demat accounts by this date. The bonus shares are expected to be credited to the demat accounts of eligible shareholders by January 13, 2025. Market Position of Garware Technical Fibers Established in 1976, Garware Technical is a leading company in technical textiles globally. The company provides innovative solutions in various areas including aquaculture cage nets, fishing nets and geosynthetics. The company is part of the BSE 500 index and has a market capitalization of ₹8,475.42 crore as of December 24. The company's stock closed at ₹4,269.05 on BSE on December 25, showing a marginal decline of 0.57% from its previous close price. The stock has a 52-week high of ₹ 4925.80 and a 52-week low of ₹ 3116.10. Bonus shares are additional shares given to existing shareholders without any additional purchase, based on the number of shares they already hold.
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