Aastha Spintex, a leading integrated cotton yarn manufacturer, has fixed September 9 as the record date to determine shareholders for the purpose of payment of dividend.
The dividend has to be approved by shareholders at the company’s annual general meeting to be held on September 16
The company’s board will also discuss and approve the 1:1 bonus and take up the proposal to increase the authorised share capital of the company from ₹45 crore to ₹100 crore in the company’s AGM.
Earlier, the board has approved a dividend of ₹0.10 per equity share.
The board members have approved the capitalisation of up to ₹44 crore from eligible Free Reserves, Securities Premium and Capital Redemption Reserve as of March-end for issuing fully paid-up bonus equity shares in the ratio of 1:1 to existing shareholders.
The bonus shares will be allotted to members whose names appear in the Register on the record date fixed by the Board.
The Board of Directors also approved expansion into forward-integrated textile products, including grey fabric and other value-added fabric products under its proprietary brand.
The company recently announced a strong cumulative order book position of about ₹51 crore for its subsidiary Falcon Yarns.
The increase in authorised share capital will facilitate the issuance of bonus shares and support the company’s future capital requirements. Alongside these initiatives, Aastha Spintex’s approved expansion into value added textile products, marking an important step in strengthening its presence across the textile value chain and creating new opportunities for sustainable growth, the company said.