Indraprastha Gas Limited (IGL) has announced that its board will meet on December 10, 2024, to deliberate on a proposal for issuing bonus shares to its equity shareholders. This decision, which is subject to shareholder approval, will determine the ratio for the bonus share issuance.
According to data available on the BSE, this will be the first time the company is issuing bonus shares to its shareholders. The company had previously executed a stock split in 2017, splitting one share of ₹10 into five shares of ₹2 each.
The trading window for dealing in the company’s shares will remain closed from December 4, 2024, until 48 hours after the outcome of the board meeting is disclosed, as per regulatory compliance.
Promoters of Indraprastha Gas currently hold a 45% stake in the company as of the September quarter.
In a separate development, IGL had announced a 20% reduction in domestic gas allocation last month. This change, which took effect from November 16, followed a similar reduction in October, impacting domestic gas supply.
