The Board of Sky Gold approved a bonus issue of shares in the proportion of 9:1, meaning investors will receive 9 additional shares for every share they hold in the company.
The record date for this will be announced in due course.
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A company issues bonus shares for its shareholders to increase the liquidity of the stock and decrease its price, making it more affordable for investors.
Bonus shares are fully paid additional shares issued by a company to its existing shareholders. When a firm issues bonus shares, its shareholders do not incur any extra costs to receive them. The number of bonus shares you receive depends on the number of shares you already hold in the firm.
All shareholders who own shares of the firm before the record date, as determined by the company, are eligible for additional shares.
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The bonus shares, once allotted, will rank pari-passu in all respects and carry the same rights as the existing equity shares. They will also be entitled to participate fully in any dividends and other corporate actions recommended.
Sky Gold is engaged in the design, manufacturing, and marketing of gold jewelry. The company offers a wide variety of designs to suit the preferences of its customers.
It provides an extensive range of designs and incorporates studded American diamonds and colored stones in many of its jewelry products. The gold jewelry is available for special occasions such as weddings and festivals, as well as for daily wear, catering to all ages and genders at various price points.
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The product range includes necklaces, rings, pendants, bracelets, earrings, bangles, and customized jewelry based on customer demand. Its collection features designs such as Rangi, Marisa, Saathiya, Sovana, and Misha.
Sky Gold shares have delivered exceptional returns to investors over the past year, surging by as much as 418%. On a year-to-date basis, the stock has risen by 256%.
