Newgen Software Shares Set to Trade Ex-Bonus, Skipper to Trade Ex-Rights Today

Newgen Software Technologies Set to Trade Ex-Bonus

Newgen Software Technologies Ltd has declared a 1:1 bonus issue for its shareholders. It means that for each existing fully paid-up equity share of ₹10 each, shareholders will receive one new fully paid-up bonus equity share of ₹10 each. Record date for determining eligibility for the bonus issue is 12 January. A total of 7.00 crore bonus equity shares with a face value of ₹10 each are proposed to be issued. Shareholders can look forward to Newgen Software Technologies' shares trading ex-bonus starting Friday. At the time of writing Newgen stock is up 5%.

As per the company's statement, the anticipated date for the crediting of bonus shares is "within 2 months from the date of Board Approval, i.e., on or before 26 January 2024. Over the past three months, the software sector stock has surged by 78.35%, doubling investors' wealth in the last six months with a remarkable rise of 160%, the scrip has gained 350% in the last year.

Goldman Sachs Funds - Goldman Sachs India Equity P holds a 3.15% stake in Newgen Software Technologies, amounting to 22,00,151 equity shares.

Skipper Set to Trade Ex-Rights

Meanwhile, Skipper Ltd has declared a rights issue for eligible equity shareholders, amounting to ₹2,000 million. Record date to determine eligibility for the rights issue is also set on 12 January. Right issue involves a total of 1,02,67,021 equity shares, and the issue price has been fixed at ₹194 per rights equity share. Shares of Skipper Limited will trade ex-rights starting Friday.

Skipper Ltd (India) has been performing well in the stock market, with its shares gaining momentum across different time frames. At the time of writing, the stock is up 2.55%. Over the past month, the stock showed a growth of 11.64%, maintaining a positive trend. Looking at a broader picture, in the past six months stock surged 52.58%. Over the past year, the stock has shown an increase of 115.04%.

Key Details

•    Newgen Software Technologies Bonus Issue: 1:1 ratio, record date on 12 January, 7.00 crore bonus equity shares.
•    Skipper Ltd Rights Issue: ₹2,000 million, record date on 12 January, 1,02,67,021 rights equity shares, issue price of ₹194 per share.

Final Words

Investors and market participants are urged to take note of these developments as they may impact trading patterns and investor sentiment. The bonus and rights issues reflect the strategic decisions taken by the respective companies to reward existing shareholders and raise capital for future endeavors.