Chennai, India (July 17, 2024): MM Forgings Limited, a leading manufacturer of automotive components, announced today the successful allotment of 2,41,40,800 fully paid-up equity shares as bonus shares to eligible shareholders.
The bonus shares were issued in a 1:1 ratio, meaning one bonus share for each existing share held. This effectively doubles the company's paid-up equity share capital, increasing it from ₹24,14,08,000 to ₹48,28,16,000.
The record date for determining eligibility for the bonus shares was July 16, 2024.
The company stated that the newly allotted bonus shares will rank pari passu with the existing equity shares, carrying the same rights in all respects.
Leave a comment