Kore Digital approves 2:1 bonus share issue, increases authorised share capital

Kore Digital Ltd (KDL) on Tuesday (December 3) announced a 2:1 bonus issue of equity shares, subject to shareholder approval. Eligible shareholders will receive two bonus shares of ₹10 each for every fully paid-up equity share held as of the record date, which will be communicated in due course.

The company plans to issue approximately 81,41,800 equity shares as bonus shares, including those reserved for 62,900 outstanding convertible warrants. The bonus shares will be issued from Kore Digital’s securities premium account, which stood at ₹69.51 crore as of March 31, 2024.

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After the bonus shares, the company’s paid-up equity share capital is expected to rise from the current ₹4.01 crore (40,08,000 equity shares) to approximately ₹8.14 crore (81,41,800 equity shares). The exact number will depend on the paid-up share capital on the record date.

Additionally, Kore Digital has approved an increase in its authorised share capital from ₹4.5 crore (45,00,000 equity shares) to ₹12.5 crore (1,25,00,000 equity shares). This adjustment will involve modifying the capital clause in the company’s memorandum of association.

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Shares of Kore Digital Limited ended at ₹1,693.85, down by ₹34.55, or 2%, on the NSE.