Motherson Sumi Wiring Trades Ex-Bonus: Ratio, Record Date, Eligibility & More
By Malvika Gurung
Investing.com -- Shares of the auto components manufacturer Motherson Sumi Wiring (NS: MSWI ) India began trading ex-bonus on Wednesday and rose 2.6% to Rs 60.8 apiece at the time of writing.
The company’s board informed the stock exchanges in a filing on Sept 30, 2022, that its Board of Directors considered and approved a bonus issue of shares in the ratio of 2:5 to eligible shareholders.
The record date for determining eligible shareholders for the issuance of bonus equity shares has been set as Nov 17, 2022.
The leading auto components manufacturer announced in its exchange filing that the company’s board recommended “bonus shares issuance to shareholders in the ratio of (2) two bonus equity shares against 5 (five) existing equity shares”.
This means for every 5 shares held by Motherson Sumi Wiring India’s shareholders on the record date, they will be awarded two bonus shares without any additional cost.
Further, shareholders of the company have approved the bonus equity shares issue by passing an Ordinary Resolution through Postal Ballot, and its result has been declared by the firm on Nov 5, another regulatory filing read.
According to InvestingPro data, the fair value of the company stands at Rs 77.4/share, which is at a 28.5% upside.
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