The Board of NBCC (India) Ltd. has recommended the issuance of bonus shares to shareholders of the company in the ratio of 1:2 [ 1 (One) new fully paid-up equity share of ₹1 each for every two existing fully paid-up equity shares of ₹1 each to the eligible shareholders].
Consequently, the paid-up equity share capital of the company will increase from ₹180 crore to ₹ 270 crore. The newly allotted bonus shares will hold equal status with the existing shares. They will be directly credited to the shareholders’ demat accounts, the company said in a statement.
K.P. Mahadevaswamy, CMD, NBCC (India) said, “The decision to recommend a bonus issue is a testament to the robust performance and sound financial position of NBCC (India) Ltd.”
The last bonus that the company had announced was in 2017 in the ratio of 1:2.
