Board of Indo Cotspin approves issuance of 29.40 lakh bonus shares

The Board of Indo Cotspin at its meeting held on 07 August 2024 has approved issuance of 29,40,350 Bonus equity shares in the ratio of 07:10 i.e. 07 (Seven) fully paid-up equity share for every 10 (Ten) existing equity share having face value of Rs. 10 each, held by the members of the Company as on Record Date, subject to necessary approvals as may be required.

The Board also approved increase in authorized share capital of the company from Rs. 5 crore consisting of 50,00,000 equity shares of Rs 10 each to Rs.10 crore consisting of 1 crore equity shares of Rs. 10 each ranking pari - passu in all respect with the existing equity shares of the company.