Redtape Limited — Important, 27-12-2024: General Updates

The Board of Directors of RedTape Limited has declared an interim dividend of ₹2 (100%) per equity share for the financial year 2024-25, with a record date set for January 3, 2024. Additionally, the Board has proposed an increase in authorized share capital from ₹30.02 crore to ₹112.01 crore, pending shareholder approval. This includes the creation of 40.99 crore new equity shares.

Moreover, a bonus share issue is proposed at a ratio of 3:1, meaning shareholders will receive three new equity shares for every existing share held. The issuance is intended to come from free reserves, with the pre-bonus paid-up equity capital at ₹27.64 crore and post-bonus capital projected at ₹110.56 crore. The timeline for the crediting of bonus shares is contingent upon receiving SEBI approval, with further details to follow.

These initiatives signal a positive outlook for the company as it seeks to enhance shareholder value and expand its capital base for future growth. Investors should watch closely for final approvals and subsequent impacts on stock liquidity and market sentiment.