Record date for this bonus issue of shares will be determined in due course, the company said in its filing, adding that this bonus issue is subject to approval from its existing shareholders.
This will be the first instance that Brigade will be issuing bonus shares for its shareholders in the last seven years. The last time it did so was back in 2019.In 2019, Brigade had issued bonus shares in the ratio of 1:2, meaning it issued one free share for every two shares held by shareholders as on the record date.
As per Brigade’s March quarter shareholding pattern, the company has 1.5 lakh retail shareholders, or those with authorized share capital of up to ₹2 lakh. These shareholders own close to 4% stake in the company. Mutual Funds of India have a 22% stake.
Shares of Brigade Enterprises ended 1.8% higher on Wednesday at ₹806. The stock has gained over 200% in the last five years, but trades significantly lower than its 52-week high of ₹1,332.
