Bonus issue record date alert: Shares of Aastha Spintex Limited are likely to remain in focus during Friday’s trading session ahead of its bonus issue record date. The textile company has announced 1:1 bonus issue for investors.
In a separate development, Aastha Spintex has secured one, long-term, non-cancellable orders for the manufacture and supply of Greige Fabric. Here are all the developments related to the stock.
Aastha Spintex bonus issue record date: Last chance to buy today
The company has fixed Monday, September 28, as the record date to determine the eligibility of investors for the payout. Which means that they must own the stock before the record date to become eligible for the corporate action. It effectively makes Friday, September 25, as the last day to buy the textile stock to qualify for the corporate action, as the Indian stock market will remain shut on Saturday and Sunday.
Notably, Aastha Spintex is the only stock with Monday, September 28, as the record date for any corporate action.
Aastha Spintex bonus issue
The company’s board of directors has announced 1:1 bonus issue. As per the company’s BSE filing, the “bonus entitlement is 1:1 – ie, 1 (One) new fully paid-up equity share of face value Rs. 10/- each for every 1 (One) existing fully paid-up equity share of face value Rs. 10/- each.”
Aastha Spintex business update
The Gujarat-headquartered company has secured an order worth ₹25 crore for the manufacture and supply of Greige Fabric from JSK Textile LLP.
“Aastha Spintex Limited (“the Company”) has secured one, long-term, non-cancellable orders for the manufacture and supply of Greige Fabric,” as per the stock exchange filing released on Thursday.
The aggregate value of the orders is approximately ₹25 crore which will be executed over a period of two years on an ex-mill basis. The contract is non-cancellable under the terms and the execution will start with an initial 30 MT per contract within the next two months.
“The orders represent the Company’s continued expansion of its existing textile business and its ability to cater to a broader range of customer requirements as part of its normal course of business,” stated the company in its BSE filing released on Thursday.
Aastha Spintex share price trend
Aastha Spintex share price closed 9.99% lower at ₹80.82 per share on BSE with an MCap of ₹356.76 crore. The company scrip dipped to an intraday low of ₹80.82 per share and an intraday high of ₹94.56 per share.
Aastha Spintex stock returns
The textile stock has delivered 10.70% return in one month, and 5.23% return in one week. Its share price value has surged close to 1.65% over the last two weeks. Aastha Spintex IPO was listed in July at 4.41% discount.
