Tirupati Forge gets the approval to increase its authorised share capital from Rs.7 Crore to Rs.15.50 Crore along with issue of bonus share.

Company : Touchwood Entertainment Limited

The Board of Directors of Tirupati Forge Limited recommended Bonus issue in the ratio of 6 equity shares of face value Rs.10 each, for every 10 equity shares.

The Pre-bonus issue paid up equity share capital stood at Rs.5,98,00,000 as on 20th August 2019, consisting of 59,80,000 equity shares of value Rs.10 each.

As per the reports, the post-bonus paid up equity share capital shall be Rs.9,56,80,000 consisting of 95,68,000 equity shares of value Rs.10 each.

Rs.4,20,00,000 will be utilised for implementation of bonus issue and Rs.8,90, 42,446/- consisting of free reserves, securities premium is available as on 31st March 2019.

Reportedly, bonus shares will be credited or dispatched within 60 days from the date of Board approval.

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