This multibagger stock announces bonus share issue in the ratio of 1:2

Xpro India reported that its board of directors proposed issuing bonus equity shares in a 1:2 ratio during its meeting on Wednesday.

Xpro India reported that its board of directors proposed issuing bonus equity shares in a 1:2 ratio during its meeting on Wednesday.  

"It is recommended that bonus shares be issued in the proportion of 1 (one) equity share of Rs 10 each for every 2 (two) existing fully paid-up equity shares of Rs 10 each held by the shareholders of the company as on the record date, subject to the shareholder approval at the ensuing annual general meeting and other applicable statutory & regulatory approvals; as may be required," Xpro India stated in an exchange filing.  

The board has also approved the reservation of one equity share of 10 dollars for every two equity shares of 10 dollars to be granted when the holder of the warrant (s) exercises their option to convert up to 19,68,000 convertible warrants outstanding as of March 31, 2022, into fully-paid equity shares.  

The board has also recommended a dividend of Rs 2.00 per equity share of Rs 10 for the fiscal year ending March 31, 2022, subject to the shareholder approval at the company's annual general meeting.  

Birla Group, which includes Xpro India Limited, is a corporation with multiple divisions. It's a multi-divisional, multi-locational conglomerate with a significant focus on the polymer processing business. Xpro India's stock has risen more than 592 per cent in a year while the Multi-bagger stock gained approximately 10 per cent in 2022 (YTD).