RedTape Stock Price: Shoe and apparel manufacturer Redtape Ltd has declared bonus shares and interim dividend for shareholders. A decision regarding this was taken in the board meeting on 26 December. The company has told the stock exchanges that the board has decided to give an interim dividend of Rs 2 per share to the shareholders for the financial year 2024-25. The record date for this has been fixed as January 3, 2024. Shareholders whose names appear in the Register of Members of the Company or the records of the depositories as beneficial owners of shares as on this date will be entitled to receive the dividend.
Apart from this, the board has also approved bonus shares for shareholders in the ratio of 3:1. This means that for every share of Rs 2 face value held by the shareholders, 3 new shares of the same face value will be given as bonus. The record date for this has not been announced yet. A total of 41,46,05,700 shares will be allotted under the bonus issue.
RedTape stock jumped more than 90 percent in a year
RedTape shares saw an intraday rise of up to 5 percent on December 26. The stock opened at Rs 879 on BSE and went up to a high of Rs 915. The market cap of the company is Rs 12400 crore. The share price has risen 92 percent in the last one year and 4 percent in a week.
Mazagon Dock Shares: One share of a government company will be divided into two pieces on December 27, the price increased by 5% a day before.
Shares were listed in August 2023
According to BSE data, promoters held 71.80 percent stake in RedTape Limited by the end of September 2024. The company is going to give bonus shares and dividend for the first time. The shares were listed on the stock exchange on 11 August 2023. The closing price on the listing day on BSE was Rs 493.25. RedTape’s parent company is Mirza International.
According to BSE data, RedTape’s standalone revenue stood at Rs 415.78 crore in the July-September 2024 quarter. Net profit during the quarter was recorded at Rs 25.68 crore. In FY 2024, revenue was Rs 1,831.87 crore and net profit was Rs 169.80 crore.