Utssav CZ Gold Jewels to issue 1:1 bonus shares
Board approves issuance of one bonus share of face value ₹10 for every existing share held by eligible shareholders
Utssav CZ Gold Jewels, a prominent manufacturer, wholesaler, and exporter of lightweight cubic zirconia and gold casting jewelry, has approved a plan to distribute bonus shares at a 1:1 ratio, pending shareholder approval and requisite clearances. The board of directors endorsed the issuance of one bonus share, valued at ₹10, for each existing share held by eligible shareholders.
The specific record date for determining eligibility for the bonus shares has yet to be disclosed after obtaining the required approvals. The company anticipates issuing 2,49,98,000 bonus shares, elevating its paid-up equity share capital from ₹25 crore to ₹50 crore, and increasing the number of shares from 2,49,98,000 to 4,99,96,000.
The bonus shares will be sourced from the company's securities premium reserve, free reserves, and retained earnings as of March 31, 2026. The shares are projected to be credited within 60 days of the board's approval, contingent upon shareholder approval and other statutory and regulatory clearances. In addition, the board endorsed a proposal to enlarge the company's authorized share capital from ₹25 crore to ₹60 crore, comprising six crore shares of ₹10 each.
This expansion aims to facilitate the proposed increase in paid-up share capital and requires shareholder approval and a subsequent alteration to the capital clause of the Memorandum of Association. Utssav CZ Gold Jewels will disclose the record date and further details once the necessary approvals are secured. Following the approval, shares of the company experienced a minor decline of 0.52 percent, trading at ₹1,014 on Friday.
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