R M Drip and Sprinklers Systems Limited announced a significant corporate action following a Board of Directors meeting held on February 28, 2026. The board has approved the issuance of bonus equity shares in the ratio of 5:7. This means shareholders will receive 5 new fully paid-up equity shares of Rs. 1 each for every 7 existing equity shares of Rs. 1 each they hold, as of the record date. The company also approved an increase in its authorized share capital from Rs. 31.50 crore to Rs. 50 crore, divided into 50 crore equity shares of Rs. 1 each. This is subject to shareholder approval via postal ballot and other necessary regulatory clearances. The record date for determining the eligibility of shareholders for the bonus issue has been fixed as April 7, 2026. The company plans to seek member approval for both the increase in authorized share capital and the bonus share issuance through a postal ballot process. The Board meeting commenced at 1 PM IST and concluded at 3 PM IST on February 28, 2026. The bonus shares are estimated to be credited or dispatched within two months from the board's approval, on or before April 27, 2026.
