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NBCC announces 1:2 bonus share issue

In a regulatory filing, the company informed that the board has approved issuance of bonus shares and fixation of record date
07:30 AM Sep 01, 2024 IST | PRESS TURST OF INDIA
nbcc announces 1 2 bonus share issue
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New Delhi, Aug 31: 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.

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

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“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.

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The company proposes to issue 90 crore shares as bonus shares.

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“Free reserves of Rs 90 crore would be utilised for the issue of bonus Shares,” the NBCC said.

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This is subject to the approval of the shareholders in the forthcoming Annual General Meeting.

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The Board has fixed October 7, 2024 as record date to determine the eligibility of members to receive bonus shares.

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