Recently listed stock approved bonus issue, dividend within a month of debut- Details

Recently listed Aastha Spintex Ltd on Thursday approved a number of proposals for the shareholders of the company, including a bonus share issue and a final dividend for FY26. Textile manufacturer's board approved the bonus issue in 1:1 ratio.

The company board approved issuance of one fully paid-up bonus equity share for every one existing equity share held by eligible shareholders. The bonus issue will be implemented through the capitalisation of the company's reserves and surplus, subject to shareholder approval, stock exchange clearances and other regulatory approvals.

To facilitate future growth and corporate actions, the board also approved a proposal to increase the authorised share capital to Rs 100 crore from Rs 45 crore, subject to shareholders' approval through an amendment to the Memorandum of Association.

In addition, the board recommended a final dividend of Re 0.10 per equity share of face value Rs 10 each, equivalent to 1 per cent of the face value, for the financial year ended March 31, 2026. The dividend, if approved by shareholders at the upcoming Annual General Meeting (AGM), will be paid within 30 days of its declaration.

The company said the record date for determining shareholders eligible for the bonus issue and the final dividend will be announced separately after obtaining the necessary in-principle approvals from stock exchanges. The ex-date will be one working day prior to the record date, in line with SEBI regulations.

Separately, Aastha Spintex said it is moving up the textile value chain by expanding from yarn into fabric, signalling a strategic diversification aimed at strengthening its business portfolio and enhancing value addition.

Following the announcement, shares of Aastha Spintex dropped more than 10 per cent from day's high at Rs 106.90 to Rs 95.95 during the session. The total market capitalization of the company stood at Rs 450 crore.

To recall, shares of Aastha Spintex were listed earlier this month, when the company raised a total of Rs 170 crore from its primary offering selling its shares for Rs 125-136 apiece, with a lot size of 110 equity shares between June 29-July 1.