Shree Ganesh Biotech India to consider bonus shares issue, stock surges

Shree Ganesh BioTech India on Thursday announced that its board will meet on March 7, 2022 to consider the issue of bonus shares to the company's shareholders. Shares of Shree Ganesh Biotech surged more than 5% to ₹135.9 apiece on the BSE in Thursday's first half of the trading session.

“We hereby like to inform you that a meeting of the Board of Directors of the Company will be held at registered office of the company on Monday, 7th Day of March, 2022 to consider the declaration of issue of bonus shares to the equity shareholders of the company,” the company informed in an exchange filing today.

A company usually issues bonus shares for their shareholders in order to increase the liquidity of the stock as well as with the aim to decrease its stock price to make it affordable for investors. Bonus shares are fully paid additional shares issued by a company to its existing shareholders.

Shree Ganesh Biotech (India) Limited is a Kolkata based Company mainly engaged in the trading of seeds and bhushi. It is engaged in the business of production, processing and marketing of high quality hybrid seeds for different crops like corn, sunflower, cotton, paddy, grain sorghum, etc. The stock is up just 7% in the last one year whereas it has declined more than 8% in 2022 (year-to-date or YTD) so far.