Aastha Spintex has scheduled a board meeting for July 23 to consider a 1:1 bonus share issue and a 100% final dividend for shareholders.
The Gujarat-based integrated cotton yarn manufacturer announced the agenda on Monday, marking a significant early capital return and equity restructuring move for the newly listed company.
The company’s IPO reached 88% subscription by the close of its second day, with the issue closing on July 1.
The proposed bonus issue involves issuing one additional share for every share held, effectively doubling the share count without altering shareholder ownership percentages.
Coupled with the proposed final dividend, the agenda items suggest management’s confidence in the company’s liquidity position and future earnings trajectory following its recent market debut.
This development follows a robust initial public offering for Aastha Spintex, which saw strong investor demand.
The company’s IPO reached 88% subscription by the close of its second day, with the issue closing on July 1.