Indraprastha Gas Ltd (IGL) has recently informed exchanges that its board approved a 1:1 bonus share issue, rewarding shareholders with one bonus share for every existing share held. The company’s authorized share capital will rise from ₹220 crore to ₹1,000 crore. This uses existing free reserves of ₹8411.74 crore.
The bonus issue will result in the issuance of 70 crore new equity shares of ₹2 face value each. Post-bonus, the paid-up share capital will double to ₹280 crore, divided into 140 crore equity shares.
This move highlights IGL’s robust financial health, as the free reserves are derived from the company’s profits. The bonus shares are expected to be credited or dispatched by February 9, 2025.
Key Details:
- Type of Securities: Equity shares with a ₹2 face value.
- Bonus Ratio: 1:1 (one bonus share for every existing share).
- Pre-Bonus Capital: ₹140 crore (70 crore shares).
- Post-Bonus Capital: ₹280 crore (140 crore shares).
- Source of Bonus Issue: Free reserves of ₹8,411.74 crore as of March 31, 2024.
- Capitalized Amount: ₹140 crore from free reserves.
TOPICS:
Indraprastha Gas