Multibagger stock to consider bonus issue of shares on 28 March. Details here

Dolfin Rubbers Ltd, which has given multibagger returns to investors over the past one year, today said its board will meet on 28 March to consider and approve bonus issue of shares.

The company's board will also consider increasing authorized share capital from ₹8 crore to ₹10.2 crore during the meeting.

Further, the board will also take the proposal for migration and listing of equity shares of the company from BSE SME platform to main board of BSE and NSE.

On Friday, Dolfin Rubbers shares closed 9.5% higher at ₹102 on BSE SME platfo. So far in 2022, the company stock has surged 43.06% (Year-to-Date). In the past one year, however, the stock has given massive returns to investors by surging over 100%.

Incorporated in 1995, Dolfin started its journey of manufacturing tubes in the year 1997. It has established one of the biggest network in almost each and every corner of India. The company is engaged in manufacturing of all types of auto and animal driven (ADV) tubes supporting the tyre tube industry near Ludhiana (Punjab).

The company's products are also available in Bangladesh, Bhutan, Egypt, Nepal, Pakistan and Sri Lanka.

Bonus issue

When a firm issues bonus shares, its shareholders do not have to incur any extra costs to get them. The number of bonus shares you receive depends on the number of shares of the firm you already hold.

All shareholders who own shares of the firm before the ex-date, which is determined by the firm, are eligible for bonus shares.

The bonus issue is as on record data, subject to the approval of members and other approvals, consent and conditions as necessary.