By Malvika Gurung
Investing.com -- The consultancy services provider Navoday Enterprises (BO:NAVO) announced in a board meeting held last week that it will issue bonus equity shares to eligible shareholders in the ratio of 1:1.
According to a BSE filing, the micro-cap company informed its board of directors in a meeting held on Nov 14 approved issuing 38,54,000 bonus equity shares of Rs 10 each in the ratio of 1 new equity share for every 1 existing equity share held by the shareholder.
This means that Navoday Enterprises will issue 1 fresh equity share for every existing share held by the shareholders without any additional cost.
The record date for determining the eligibility of shareholders entitled to the corporate benefit has been fixed as Nov 29, 2022.
The company informed the domestic bourse on Saturday that its Board of Directors are scheduled to meet on Thursday, Dec 1 to consider and approve the allotment of bonus shares as well as for 'any other business with permission of the Chairperson'.
The penny stock closed 4.86% lower at Rs 9.99 apiece on Friday.