The jewellery maker has recommended issuing one bonus share for every share held and increasing its authorised share capital from Rs 24.998 crore to Rs 60 crore, subject to approvals.
Utssav CZ Gold Jewels has outlined two capital-related proposals in its latest exchange filing, including a plan to issue bonus shares and a move to widen its authorised share capital. The small-cap jewellery maker, which is listed on the NSE SME Emerge platform, ended the session lower on Monday, falling 3.38% to Rs 980 shortly before the market closed.
According to the company’s filing, the board has recommended a 1:1 bonus issue, meaning shareholders would receive one additional equity share for every share they already hold. The proposal would be funded from reserves and surplus, with up to Rs 24.998 crore of retained earnings and other reserves earmarked for the issue.
The company has also proposed raising its authorised share capital to Rs 60 crore from the current Rs 24.998 crore. If approved, the increase would expand the company’s capacity to issue more shares in future and would require an alteration to the capital clause in its memorandum of association. Industry filings reviewed by market trackers show the board approved both proposals on October 23, with final implementation still subject to shareholder and regulatory clearances.
Utssav CZ Gold Jewels was founded in 2007 and makes lightweight cubic zirconia and gold casting jewellery. It supplies products such as rings, earrings, pendants and bracelets to retailers and wholesalers across India, while also serving export markets. The company has positioned itself as a manufacturer, wholesaler and exporter, with design flexibility aimed at meeting a range of customer preferences.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
