Mittal Life Style said that the Board of Directors of the company approved to issue Bonus Shares in the proportion of 2 Bonus Equity Share for every three existing fully paid up equity shares.

Company : MMP Industries Limited

The filing to the NSE said "the bonus shares will be issued out of securities premium account and retained earnings of the company as on 31st March, 2019". The bonus shares will be issued in the ratio of 2:3 that is two bonus equity share of Rs.10/- each fully paid up for every three existing equity shares of Rs. 10/- each, fully paid up held as on record date.

As per the information provided by the company the pre-issue paid up capital stood at Rs.70500000/- divided into 7050000 equity shares of Rs.10/- each and the post issue paid up capital stood at Rs.117500000/- divided into 11750000 equity shares of Rs.10/- each.

Free reserves and/ or share premium required for implementing the bonus issue is Rs.47000000. As on 31st March, 2019 the share premium was Rs.19213460 and retained earnings were Rs. 29137228.

Mittal Life Style Limited confirmed in the notice filed to NSE that within 2 months from the date of Board meeting that is 14th May, 2019, bonus shares would be credited or dispatched.

The Board of Directors of Mittal Life Style Limited recommended the increase in authorised share capital of the company from Rs.100000000 to Rs.120000000 and consequent alteration in capital clause of Memorandum of Association of the Company subject to the approval of members of the company.

Mittal Life style was incepted in the year 2005. It is located at Mumbai, the financial capital of India. The company is a prominent supplier of fashion fabrics, cotton canvas denims, dupion bottom fabrics, polyester fabrics, cotton fabric, knit fabrics etc. to textile industry.

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