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By Malvika Gurung
Investing.com — Shares of the winding wires-producing company Precision Wires India (NS:) zoomed 6.94% higher at Rs 75 apiece on Thursday, as it trades ex-bonus in the session.
Precision Wires India is the largest winding wires manufacturer in India. The company announced that its board of directors approved an allotment of bonus shares to eligible shareholders in the ratio of 1:2 at a board meeting held on Dec 16.
The small-cap company has allotted 5,78,18,115 equity shares as fully-paid-up bonus equity shares, giving away one share of the company for every two shares held by shareholders eligible for the corporate reward, at no additional cost.
The wires company has set the record date for determining the eligibility of members receiving the bonus shares as Dec 22, 2022.
The paid-up equity share capital of Precision Wires India stands raised from Rs 11,56,36,230 to Rs 17,34,54,345 by increase and addition of 5,78,18,115 equity shares of Re 1 each fully paid up, stated the company’s filing to the stock exchanges.
Further, the company added that the Board meeting for allotment of its shares shall be held after the set record date.
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