The Sandur Manganese & Iron Ores Limited's board has approved the issue of bonus shares in the ratio of 2:1 and an increase in the authorized share capital, as decided in its board meeting on August 8, 2025.
The board has recommended increasing the authorized share capital from ₹200 crore to ₹600 crore. The company will issue two new fully paid-up equity shares for every one existing share held. The board's decisions are subject to the approval of members through a special resolution.
| Particulars | Details |
|---|---|
| Bonus Share Ratio | 2:1 |
| Increase in Authorized Share Capital | From ₹200 crore to ₹600 crore |
The company will capitalize a sum not exceeding ₹324.06 Crores from its free reserves for the bonus issue. As of June 30, 2025, the total available reserves stood at ₹2,581.41 Crores.
The increase in authorized share capital will result in a change to Clause 5 of the Memorandum of Association (MOA). The existing and proposed share capital structures are as follows:
| Particulars | Existing | Proposed |
|---|---|---|
| Number of Shares | 20,00,00,000 | 60,00,00,000 |
| Face Value per Share (₹) | 10 | 10 |
| Amount | 20,000.00 | 60,000.00 |
The new equity shares issued as bonus shares will rank pari-passu with the existing equity shares of the company.
The resolutions for the bonus issue and the increase in authorized share capital will be passed through postal ballot, with remote e-voting commencing on August 12, 2025, and ending on September 10, 2025.
The Sandur Manganese & Iron Ores Limited has engaged National Securities Depository Limited (NSDL) to facilitate remote e-voting for the members.
The company has scheduled a postal ballot, with e-voting to begin on August 12, 2025, and end on September 10, 2025, to approve these proposals.
The resolutions, if approved, will be taken as having been passed effectively on September 10, 2025.
The company's shares are listed on BSE Limited (BSE) and National Stock Exchange of India Limited (NSE), and the results of the postal ballot will be declared and communicated to these exchanges on or before September 12, 2025.
The resolutions, if approved, will be taken as having been passed effectively on September 10, 2025.
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