Vipul Organics recommends bonus equity shares for shareholders
Tuesday,01 March 2022 06:50 PM IST
New Delhi, March 1
As part of its 50th year of operations, the BSE-listed specialty chemical maker Vipul Organics has announced that its Board recommended bonus equity shares for its shareholders and Employee Stock Option Schemes (ESOSs) for its employees.
"Vipul Organics Board has recommended the issue of Bonus Equity Shares in proportion of 1:4 i.e. 1 (one) new fully paid-up Equity Share of Rs 10/- (Rupees Ten only) each for every 4 (Four) fully paid-up Equity Shares of Rs 10/- (Rupees Ten only) each held by the eligible members of the Company, subject to the shareholders' approval," it said in a statement.
A total of new 2.56 million shares will be issued, it said.
However, it would be subject to the approval of the company's shareholders.
"Over the past five decades, the company has grown to become one of the largest manufacturers of pigment and dyes in India. This was made possible due to the unequivocal support of all its shareholders," said Vipul Shah, Managing Director of the company, adding the issue of bonus equity shares and ESOS's are a token of appreciation to its shareholders and employees.
The company manufactures pigments, dyestuff, lake colours and pigment intermediaries or fast salts in India. It has 6 manufacturing facilities spread across Maharashtra and has a global footprint in over 50 countries.
The company ended the financial year 2020-21 with revenues of Rs 120 crore with a robust 28 per cent growth over the previous financial year, the statement added.