If you invest in the stock market and are a shareholder of Indraprastha Gas Limited (IGL), then there is a great news for you. IGL on Tuesday announced 1:1 bonus shares for its investors. This is the first time that IGL is giving bonus to its shareholders, which can double their profits.
Why is IGL giving bonus shares?
IGL has taken this step to increase participation and reward retail investors.
The company aims to provide benefits to its shareholders and ensure their satisfaction. This announcement will further strengthen the confidence of retail investors in the company.
Bonus Share Ratio
The Board of Directors of IGL has approved the issue of bonus shares in the ratio of 1:1.
1:1 ratio means: Every shareholder will get one additional bonus share for one share he holds. This bonus share will have a face value of ₹2.
What will be the impact on the share capital of the company?
At present the share capital of the company is ₹140 crore. This will double to ₹280 crore after the issue of bonus shares. For this the company will use ₹140 crore from its surplus capital.
IGL has ₹8,411.74 crore available as surplus capital, which will help in smoothly implementing the scheme.
When will the bonus shares be available?
The company has said that the bonus shares will be credited to the accounts of eligible shareholders in the next two months. The record date of the bonus shares will be announced soon, so that the eligible shareholders can be identified.
IGL’s services and expansion
IGL has strengthened its hold in many major cities of North India including Delhi-NCR.
The company provides the following services: CNG: For vehicles PNG: Piped gas for homes and industries Apart from this, IGL also retails gas in many cities of Haryana, Rajasthan and Uttar Pradesh.
