Vaishali Pharma announces bonus issue, stock split. Shares up 10%

The board of Vaishali Pharma today announced a 1:5 stock split and the issue of bonus shares in the ratio of 1:1 to its eligible shareholders, following which the stock rallied 10%, ending the day at Rs 190.35 on NSE.

“The Board of Directors in its Meeting held on Wednesday, 28th August, 2024, have inter alia, considered and approved the following: Approval of sub-division/split of 1 (One) equity share of the Company having nominal/face value of INR 10 each (Rupees Ten only), into 5 (Five) equity shares of INR 2 each (Rupee Two only), subject to approval of the Members of the Company and any other regulatory authorities, if any,” said the company in a filing to the exchanges.

The company further announced the issuance of bonus shares to the eligible shareholders of the company as on record date.


“The Board of Directors has recommended the issuance of Bonus Shares to the Shareholders of the Company in the ratio of 1:1 i.e. 1 (One) new fully paid-up Equity Share of ₹ 2/- (Rupees Two Only) each for every 1 (One) existing fully paid-up Equity Share of ₹ 2/- (Rupees Two Only) each to the eligible Shareholders of the Company,” the company added.

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The company will be informing the record date for the purpose of the split as well as the bonus issue in due course of time.

Prior to this, the company had issued bonus shares once in 2019 and has not carried out a stock split in its history.

In the last one year, the shares of Vaishali Pharma have gained 51% while in the last 3 months, the stock has surged by 30.5%.

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