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What is the story about?
Shares of Anand Rathi Wealth Ltd. surged to the highs of the day on Monday, April 6, after the company informed the exchanges of its intentions to consider a bonus issue of shares.
The board of Anand Rathi Wealth will meet on Thursday, April 9, to consider a bonus issue of shares, the company said in its exchange filing.
This will be the second bonus issue that the company will be issuing to shareholders in as many years.
In March last year, the company had issued bonus shares in the ratio of 1:1, meaning the eligible shareholders had received one bonus share for every one share held as on the record date.
Besides the bonus issue of shares, the company has also paid dividends worth ₹57 per share to its shareholders since January 2022 and has also carried out a buyback of equity shares in June 2024.
Anand Rathi Wealth will also be declaring its March quarter results on Thursday.
At the end of the December quarter, promoters of the company had a 43.1% stake. Mutual Funds own a 9.12% stake in the company, while nearly 70,000 retail shareholders, or those with authorized share capital of up to ₹2 lakh, have a 17% stake in the company. Retail shareholders with authorized share capital of above ₹2 lakh, have a 14.78% stake at the end of the December quarter.
Shares of Anand Rathi Wealth are trading 1.7% higher on Monday at ₹3,261. The stock has risen 85% over the last one year.
The board of Anand Rathi Wealth will meet on Thursday, April 9, to consider a bonus issue of shares, the company said in its exchange filing.
This will be the second bonus issue that the company will be issuing to shareholders in as many years.
In March last year, the company had issued bonus shares in the ratio of 1:1, meaning the eligible shareholders had received one bonus share for every one share held as on the record date.
Besides the bonus issue of shares, the company has also paid dividends worth ₹57 per share to its shareholders since January 2022 and has also carried out a buyback of equity shares in June 2024.
Anand Rathi Wealth will also be declaring its March quarter results on Thursday.
At the end of the December quarter, promoters of the company had a 43.1% stake. Mutual Funds own a 9.12% stake in the company, while nearly 70,000 retail shareholders, or those with authorized share capital of up to ₹2 lakh, have a 17% stake in the company. Retail shareholders with authorized share capital of above ₹2 lakh, have a 14.78% stake at the end of the December quarter.
Shares of Anand Rathi Wealth are trading 1.7% higher on Monday at ₹3,261. The stock has risen 85% over the last one year.
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