NBCC approves 1:2 bonus share issue, allocates Rs 90 crore for it

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NBCC approves 1:2 bonus share issue, allocates Rs 90 crore for it - Business Standard

Quick Summary:

State-owned NBCC (India) Ltd on Saturday said the board has approved issue of bonus shares in a ratio of 1:2 to eligible shareholders and the company will utilise Rs 90 crore free reserve for this purpose.

"The Board of Directors has recommended the issuance of bonus shares to the shareholders of the company in the ratio of 1:2 i.e.one new fully paid-up equity share of Rs 1 each for every two existing shares to the eligible members as on the record Date," the company said.

In a regulatory filing, the company informed that the board has approved issuance of bonus shares and fixation of record date.