Multibagger Stock Cosmo Films Announces 1:2 Bonus Shares Issue

Cosmo Films said that its board of directors approved the issuing of bonus equity shares in the ratio of 1:2 at its meeting on May 9, 2022, subject to shareholder and other appropriate clearances. The record date for calculating eligible shareholders entitled to bonus shares will be announced later, according to the business.

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“This is to inform that the company’s board of directors, at its meeting on May 09, 2022, approved, among other things, the issue of bonus shares in the proportion of one equity share of ten rupees each for every two existing equity shares of ten rupees each held by the shareholders as on the Record Date, subject to shareholder approval via postal ballot and other applicable statutory and regulatory approvals; as may be required,” Cosmo Films said in an exchange filing.

Bonus shares are fully paid extra shares issued to current shareholders by a corporation.

The board also suggested changing the company’s name from “Cosmo Films Limited” to “Cosmo First Limited” during its meeting on Monday, subject to shareholder approval.

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Cosmo Films stock has risen more than 33 percent year-to-date (YTD) in 2022, while the multibagger stock has risen more than 173 percent in a year. Cosmo Films is an Indian manufacturer, supplier, and maker of BOPP films.

Cosmo Films Limited, founded in 1981, is a market leader in specialty films for packaging, laminating, and labelling. Biaxially oriented polypropylene (BOPP) films, cast polypropylene (CPP) films, and biaxially oriented polyethylene terephthalate (BOPET) films are among the company’s film products.

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