Rama Steel Tubes declares 4:1 bonus share issue

Rama Steel Tubes declared a 4:1 bonus share issue at its board meeting held on Friday.

The release by the company said that shares worth Rs 42.10 crore will be issued as part of the bonus share issue.

"Bonus shares will be issued out of credit of the share premium account of the company available on the basis of audited financial statements as of 30th September, 2022," added the company's filing.

For the investor know-how, the company said bonus shares will be credited within two months from the date of board approval i.e. by January 18, 2023.

Rama Steel Tubes is a multibagger stock with a year-to-date return of 158%, while its one-year return is at 255%.

The company is a professional manufacturer and just in time supplier of steel pipes in India. The company's clients include BSES Rajdhani Power, Gujarat Gas and UPCL among others.