The SME segment has been flooded with public offers over the past few years. More and more companies are going public by launching their IPOs. The SME IPOs have garnered overwhelming responses from both retail and high-net-worth individuals amid economic resilience. After a rights issue earlier in February this year, pharma stock Dipna Pharmachem will soon announce twin corporate actions of bonus distribution and sub-division of the face value of equities.
According to a BSE filing, the board’s meeting is scheduled to take place on April 26, wherein proposals will be taken up for consideration for bonus share distribution and sub-division of equities.
“The proposal of issue of bonus equity shares to the existing equity shareholders. The proposal of sub-division of equity shares,” according to a statement on BSE.
The rationale behind bonuses and splits is to increase liquidity and make the shares affordable to small traders and investors.
Earlier in February this year, the pharma stock, which supplies raw materials to the pharmaceutical industry, announced a rights issue. A rights Issue is a corporate action wherein a listed company invites its existing shareholders to purchase the additional shares at a discounted price.
Back in August 2022, Dipna Pharmachem floated its IPO. It offered 40,02,000 equity shares of Rs 10 face value at a price of Rs 38 per equity share, aggregating to Rs 15.21 crore. Its shares are listed on the BSE SME platform for trading.
Notably, capital markets regulator Securities and Exchange Board of India (SEBI) had come out with guidelines in 2010 for launching BSE’s SME exchange. BSE was the first stock exchange to get approval from SEBI and launch its SME platform in 2012.
