Advait Infratech rewards shareholders with 1:1 bonus
New Delhi (India), February 17: Advait Infratech has been on a steady growth path since its inception in 2010.The company operates in the areas of optic fibre cables for the power and telecom sectors as well as a green hydrogen integrator helping the country in fulfilling its ambitious Green Hydrogen mission. The company has been […]
New Delhi (India), February 17: Advait Infratech has been on a steady growth path since its inception in 2010.The company operates in the areas of optic fibre cables for the power and telecom sectors as well as a green hydrogen integrator helping the country in fulfilling its ambitious Green Hydrogen mission. The company has been profitable in its operations and in its 12th year, it has surprised its shareholders by declaring a 1:1 bonus issue.
The Board of Directors of the company met on 29th December 2022 and decided to allot 51,00,000 equity shares of face value Rs 10 each as fully paid equity shares to the existing shareholders in the ratio 1:1. All shareholders whose names appeared in the Register of members as of 28th December 2022 were eligible for the bonus shares.
The issue of bonus shares is a prestigious milestone for any dividend-paying company because it will have to service a higher share capital in future. The issue is a measure of confidence that the promoters have in the growth prospects of the company.
Advait Infratech has been progressing well in its 12-year journey by using its expertise to deliver best-in-class solutions that can handle the infrastructure issues in the power and telecom sector.
In addition, they also manufacture and supply capital-stringing tools for the construction of the power transmission line.
Advait Infratech expects to keep up its profitable performance going forward as it sees a tremendous future ahead in the area. The shareholders of Advait Infratech can look forward to exciting growth from them in the quarters to come. With the thrust given by the Central Government in the Union Budget for Green Hydrogen Mission, the company will have an important role to play in that segment as well.
Speaking about this momentous development, the founder and Managing Director of Advait Infratech, Mr. Shalin Sheth said,” We are extremely delighted to announce a 1:1 bonus for our shareholders and we expect this to be the first of many more such rewarding moments for them in the future. We believe in the growth prospects of our company and our truly excited to be part of India’s exciting growth story. We hope to exceed the expectations of our shareholders in the times to come as we consider each one of them an important stakeholder in our exciting journey.”
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