Utsav CZ Gold Jewels to issue 1:1 bonus shares, record date yet to be fixed

Utsav CZ Gold Jewels Limited, a jewellery company, has announced free bonus shares for its shareholders as a Diwali gift, bringing cheer to investors in the festive season.

The company informed the stock exchanges that its board of directors approved a proposal for a 1:1 bonus issue at its meeting. It told the BSE that eligible shareholders will receive one bonus share of face value Rs 10 for every share they hold.

The record date for the bonus shares has not yet been announced. The board is expected to fix and announce it in the coming days. Which shareholders get the bonus shares is decided by the record date, so investors will have to wait for the company's official announcement.

The company also told the exchanges that a total of 24,998,000 bonus shares will be issued under the proposed bonus issue. The total number of shares will rise from 24,998,000 to 49,996,000. The proposal is moving ahead subject to the required approvals and the prescribed process.

The board has also approved an increase in the company's authorised share capital to Rs 60 crore, divided into 60 million shares of face value Rs 10 each. The increase is meant to support the proposed expansion of the paid-up share capital.

The company has passed the bonus share proposal, but the full picture will be clear only after the record date is announced. Until then, shareholders will be watching for the company's next announcement.