Shares of Sundaram Multi Pap rose over 16%, touching the 52-week high of Rs54.95, after the board of directors of the company recommended bonus issue in the ratio of 2:1 subject to the approval of the shareholders.
The board at its meeting held on February 29, 2012, has decided to issue two fully paid-up equity share of Rs1 each of the company as bonus shares for every One equity share of Rs1 each fully paid up equity shares held by the shareholders as on the record date decided by the board on later date,' the company said.
The board also decided to further invest Rs10.10 crore in the equity capital of the wholly owned subsidiary of the company namely 'E-class Education System Ltd.
The company decided to convene an Extra-ordinary General Meeting ( EGM) of the members of the company on April 01, 2012, in order to accord their consent to the above stated matters.
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The board at its meeting held on February 29, 2012, has decided to issue two fully paid-up equity share of Rs1 each of the company as bonus shares for every One equity share of Rs1 each fully paid up equity shares held by the shareholders as on the record date decided by the board on later date,' the company said.
The board also decided to further invest Rs10.10 crore in the equity capital of the wholly owned subsidiary of the company namely 'E-class Education System Ltd.
The company decided to convene an Extra-ordinary General Meeting ( EGM) of the members of the company on April 01, 2012, in order to accord their consent to the above stated matters.
....more info