Politics · India Bureau
Utssav CZ Gold Jewels approves 1:1 bonus share issue to double capital
The jewellery manufacturer's board has greenlit a bonus share scheme that would double its paid-up equity capital to nearly Rs 50 crore, pending shareholder approval and regulatory clearances.
LSN India ·
Utssav CZ Gold Jewels Ltd has approved a 1:1 bonus share issuance aimed at doubling its paid-up equity share capital, the company announced following a board meeting on October 23. Under the proposal, eligible shareholders will receive one fully paid-up equity share of Rs 10 each for every share currently held, subject to requisite approvals from shareholders and regulators.
The bonus issue will comprise 2.5 crore shares, raising the company's total equity shareholding to 5 crore shares from the current 2.5 crore. Correspondingly, the paid-up equity share capital will increase from Rs 24.998 crore to Rs 49.996 crore following the issuance.
The jewellery manufacturer will fund the bonus shares from its securities premium account, free reserves, and retained earnings as of March 31, 2026. The company expects to credit the bonus shares to eligible investors within 60 days of receiving necessary shareholder and regulatory approvals.
Utssav CZ Gold Jewels has not yet announced a record date for the bonus issue. The scheme remains conditional on approval from the company's shareholders and clearances from relevant regulatory authorities.