CKK Retail Mart to issue 5:1 bonus, enhance share capital
Board clears proposal to raise capital from ₹20 crore to ₹117 crore; paid-up equity expected to rise to ₹116.21 crore subject to shareholder approval
CKK Retail Mart has recently approved a plan to boost its authorised share capital from ₹20 crore to ₹117 crore and issue a 5:1 bonus share offering. The decision was made by the company’s Board on Tuesday and will require approval from shareholders. This increase in authorised equity shares will raise the company’s total from 2 crore to 11.70 crore shares.
The Board also greenlit the necessary changes to the Capital Clause in the company’s Memorandum of Association, pending shareholder consent. The aim is to raise ₹97 crore through the issuance of 9,68,40,000 bonus shares, bringing the paid-up equity share capital to ₹116.21 crore. Funding for the bonus share issue will be sourced from the capitalisation of eligible balances in the securities premium account and retained earnings/surplus, as per regulatory disclosures.
The company will set the record date for the bonus shares separately. This move is expected to bolster CKK Retail Mart's efforts in expanding internationally and exploring new business opportunities abroad. The announcement requires English comments in full sentences and adheres to community guidelines against abusive or personal posts.
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