Indraprastha Gas Ltd on Tuesday announced its maiden bonus issue. IGL announced a 1:1 bonus share – one free share for every share held by shareholders. The bonus share is likely to be credited within two months i.e. on or before February 09, 2025.
The Board of Directors of IGL in a meeting on Tuesday approved “issuance of bonus shares to the shareholders of the company in the ratio of 1:1, i.E. 1 (one bonus equity Shares of face value of Rs 2 each fully paid up for every 1 (one) existing equity shares of face value of Rs 2 each fully paid up, to the eligible shareholders of the company as on the record date,” the firm said in a stock exchange filing.
The share capital of the company will increase from Rs 140 crore to Rs 280 crore post-bonus issue. Rs 140 crore would be capitalized from free reserves to implement the bonus issue.
IGL said the board of directors has decided to increase in the Authorized Share Capital.
“Increase in Authorized Share Capital of the Company from z 220,00,00,000 divided into 110,00,00,000 Equity Shares of Rs 2/- each; to z 1000,00,00,000 (Rupees One Thousand Crores) divided into 500,00,00,000 (Five Hundred Crores) equity shares of Rs 2 (Rupees 2) each by consequential alteration to the Capital Clause of the Memorandum of Association of the Company, subject to shareholders’ approvals,” it added.
