Poultry firm Venkys (India) Ltd today announced bonus issue of equity shares to its shareholders, in ratio of one share for every two shares held in the company.
The bonus issue will be subject to approval by the shareholders, through postal ballot and the record date will be announced separately, it said.
"The bonus issue will be made by way of capitalisation of such sum standing to the credit of capital redemption reserve, securities premium account and general reserves of the company, as may be considered necessary by the Board," Venkys (India) said in a BSE filing.
The Board at its meeting held today recommended a bonus issue of equity shares in the ratio of one equity share for every two equity shares held, as on the record date to be determined by the Board, the filing added.
The stock of the company surged 18.66 per cent to settle at Rs 506.80 on BSE. During the day, it soared 20 per cent to Rs 512.50.
On NSE, shares of the company jumped 18 per cent to Rs 506.10 per scrip.
Venkys India deals in animal health products, pellet feeds, processed and further processed chicken products and solvent oil extraction.
The company also has Specific Pathogen Free Egg unit in technical collaboration with SPAFAS Inc of US.
Its major business is day-old layer and broiler chicks for the dense poultry markets of North India.
