The board of the company unanimously considered and approved the bonus share issue and as part of it 5,78,18,115 equity shares will be issued. These shares will be issued from the company’s share premium account.
Also, in the filing with the exchanges, the company has specified that these bonus shares will be credited in the eligible shareholders’ account within 2 months from the date of approval in board meeting i.e. by 9th January, 2023.
Precision Wires is a multibagger stock with 3-year return at over 168%. The company with a m-cap of Rs 1138 crore is the country’s largest winding wire manufacturer.
After the quarterly result update and bonus share issue announcement, the stock of
ended with a cut of over 5% at Rs 98.45 apiece on the NSE.
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