Chavda Infra shareholders approve 1:1 bonus issuance
The Board of Directors also approved an increase in the company’s authorised share capital from ₹35 crore to ₹70 crore
Chavda Infra, an integrated infrastructure and construction firm, secured shareholder approval via a postal ballot for a 1:1 bonus issuance. This decision reflects the company's dedication to boosting shareholder value and highlights its confidence in future growth prospects. In alignment with the bonus, the Board of Directors decided to raise the authorized share capital from ₹35 crore to ₹70 crore, pending shareholder consent.
This move aims to bolster the company's financial flexibility for upcoming growth ventures. Additionally, the Board opted to retain earnings to bolster the company's financial standing, underscoring its commitment to fostering business expansion and fostering enduring value for all stakeholders. Chavda Infra recently received a Letter of Acceptance amounting to ₹89 crore from ADI Shantigram Abode LLP for the construction of a high-rise residential building in Ahmedabad.
The project is slated for completion within the next 24 months. All comments must be in English and written in full sentences, adhering to the community guidelines.
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