Avenique Ltd Proposes 6:1 Bonus Issue to Meet Compliance

Bonus Ratio: 6:1 for public shareholders.
Post-bonus capital: 6,50,000 equity shares.

Reader Takeaway: Bonus issue aids regulatory compliance; watch for the formal record date to confirm eligibility for shareholders.

What just happened

The Board of Directors of Avenique Ltd has recommended a 6:1 bonus equity share issue specifically for public shareholders. This strategic action is primarily aimed at fulfilling the mandatory minimum public shareholding requirements under Rule 19A of the Securities Contracts (Regulation) Rules, 1957. The proposal involves capitalizing Rs 3,00,000 from the company's available free reserves.

Why this matters

By issuing these shares to the public, the company is adjusting its capital structure to align with SEBI and exchange-mandated public float norms. With pre-bonus paid-up capital of 5,00,000 shares, the post-bonus capital will rise to 6,50,000 shares. This transition utilizes a portion of the Rs 331.80 lakhs in free reserves reported by the company as of March 31, 2026.

EGM and Administrative Updates

To proceed, the company has convened an Extraordinary General Meeting (EGM) on Monday, December 07, 2026, to seek formal member approval. Bigshare Services Private Limited will facilitate remote e-voting, and M/s. Kamlesh Shah & Co. has been appointed as the scrutinizer for the process.

What to track next

Investors should focus on the official announcement of the record date, which will finalize the eligibility criteria for the bonus shares. The proposal remains a board recommendation until it receives the green light from shareholders at the upcoming EGM.