Surya Life Insurance endorses 16.80% bonus shares; the holders of 40% rights issued recently also eligible for bonus

Surya Life Insurance Company (SLICL) has published a notice regarding the endorsement of 16.80% bonus shares for its shareholders. The bonus will be given based on the current paid up of Rs 72,18,75,000. Thus, the total worth of bonus is Rs 12,12,75,000 and along with it cash dividend worth Rs 63,82,895 will also be distributed for tax purposes.

However, the bonus is still subject to approval from AGM and regulatory body.

The notice also mentioned that the shareholders of the recently issued 40% rights will be eligible for the bonus. So after the adjustment, the bonus will come out to be 12%.

SLICL’s paid up capital was Rs 72.18 crore. After the adjustment of 40% right shares, the company’s paid up capital will reach Rs 1.01 arba. Then adding the new bonus to be issued, the paid-up will climb to Rs 1.13 arba.