Introduction:
Prominent footwear brand has announced a board meeting on December 26, 2024, to discuss the interim dividend for FY 2024-25, increase in authorized share capital, and the issuance of bonus shares to equity shareholders.
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Share price movement of REDTAPE:
On December 23, 2024, Redtape Ltd opened at ₹907.00, up 6.1% from its previous close of ₹854.90. The stock reached a high of ₹915.80 (7.13%) and a low of ₹860.50. By 11:40 AM, it traded at ₹868.80, a 1.63% increase, with a market cap of ₹12,006.98 crore.
REDTAPE to consider interim dividend:
REDTAPE Limited has scheduled a board meeting on December 26, 2024, to consider an interim dividend for the fiscal year 2024-25. The meeting will also focus on increasing the company’s authorized share capital and issuing bonus shares to equity shareholders.
The board meeting will address key matters, including the approval of an interim dividend on equity and preference shares. The company will also explore raising its authorized share capital to facilitate the issuance of bonus shares to eligible equity shareholders.
The record date to determine the members eligible for receiving the interim dividend has been set for January 3, 2025. In line with its internal regulations, the trading window for designated persons will remain closed from December 20 to December 28, 2024.
Stock performance of REDTAPE for Period of 1 week, 6 months and 1 year:
Redtape Ltd has shown strong performance, with a 0.48% increase over the past week, 10.1% growth in the last 6 months, and an impressive 84.0% return over the past year, reflecting sustained growth and investor confidence.
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Shareholding pattern of REDTAPE:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 71.80% | 71.80% | 71.80% |
| FII | 3.30% | 3.20% | 3.10% |
| DII | 10% | 9% | 8% |
| Public | 14.70% | 16.20% | 17.30% |
About REDTAPE:
Redtape (NSE: REDTAPE) is a leading Indian fashion and lifestyle brand with over 435 stores nationwide. Known for its footwear, apparel, and accessories for men, women, and kids, it has a global presence and strong brand recall.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
