Stocks of Nykaa brand parent company, FSN E-Commerce, surged up by 11%, taking the per share price to Rs.1,414 as the company board declared a 5:1 bonus share issue on Monday.
The Indian e-commerce company, in its board meeting, approved issuing of the bonus share. The company mentioned while filing with the exchanges that its board approved a “bonus of equity shares in the proportion of 5 fully paid-up equity share of Re 1 each for every 1 fully paid-up equity share of Re 1 each held by the shareholders of the company as on the record date, subject to shareholders’ approval by way of postal ballot.”
Bonus shares are additional shares issued for free to its shareholders as per their shareholding volumes in the stock. The company issues bonus shares from its surplus reserves when it generates a decent number of profits. FSN E-Commerce Ventures will be determining the investor’s eligibility for the bonus share issue on 3rd November 2022 as the record date.
FSN E-Commerce Ventures is an e-commerce platform that offers beauty and personal care products.
