Shares of Jindal Worldwide surged 4 percent on Wednesday, January 8, reaching a record high of ₹463.90. The rally followed the company’s announcement of a bonus equity share issuance in a 4:1 ratio, granting shareholders four fully paid-up equity shares of ₹1 each for every one existing share held.
This development comes after the board of directors approved the proposal on January 7, 2025, recommending it to shareholders for approval via a postal ballot process.
Details of the Bonus Issue
The bonus shares will be issued from the company’s free reserves and/or securities premium account as of March 31, 2024.
Jindal Worldwide has stated that shareholders will be notified separately regarding the postal ballot notice and the record date for eligibility. The bonus shares are expected to be credited or dispatched by March 6, 2025, adhering to the timeline of two months from board approval.
In tandem with the bonus issue, the company plans to increase its authorised share capital and amend the capital clause in its memorandum of association to reflect the changes. Upon issuance, the company’s paid-up share capital will increase from ₹20.05 crore (comprising 20,05,20,400 shares) to ₹100.26 crore, consisting of 100,26,02,000 fully paid-up equity shares.
Stock Price Trend
The announcement pushed the smallcap stock to a 52-week high of ₹463.90. The smallcap stock has rallied 73 percent from its 52-week low of ₹268.00, recorded in January 2024.
Jindal Worldwide has seen a remarkable 44 percent gain over the past year. Notably, in January 2025 alone, the stock has added over 15 percent, building on a 25 percent rise in December and a 3 percent increase in November.
Founded in 1952 and part of the ₹18,000 crore BC Jindal Group, Jindal Worldwide is a major player in the steel industry. With two large factories in West Bengal, the company serves both domestic and international markets, exporting steel products to Latin America and the Far East. The company’s consistent performance and strategic initiatives, including the latest bonus issue, underscore its robust growth trajectory and commitment to shareholder value.
