Sakuma Exports share witnesses a good rally of 8%

Sakuma Exports shares jumped more than 8% on Tuesday after the company’s board approved the issuance of bonus shares at a 4:1 ratio. The company also announced plans to raise Rs 500 crore through qualified institutional placement (QIP) of shares and significant investments in its subsidiaries. Sakuma Exports’ shares rose 8.3% to Rs 38.28 on the BSE, up from the previous closing of Rs 35.34. The firm’s market capitalization increased to Rs 1,103 crore.

As per a stock exchange filing, “Approved Issue of Bonus Shares by way of capitalization of Capital redemption Reserves, Securities Premium Account and General Reserves account as of 31st March 2024 to the equity shareholders of the Company in the ratio of 4: 1 i.e., 4 (Four) new fully paid-up Equity Shares of Re. 1/- (Rupee One only) each for every 1 (One) existing fully paid-up Equity Share of Re. 1/- each held by the eligible shareholders as on the Record Date.”

Sakuma Exports also plans to raise up to Rs 500 crore through a Qualified  Institutions Placement  (QIP). The funds would be raised as per the SEBI guidelines and the Companies Act, 2013 in one or more tranches.

At 12:56 pm, Sakuma Exports shares were trading 0.68%  at 35.15.

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