Bonus Shares
Public sector company NBCC (India) Limited on Saturday said that the board has approved the issuance of bonus shares in the ratio of 1:2 to eligible shareholders. The company will use free reserves of Rs 90 crore for this. NBCC told the stock market that the board has approved the issuance of bonus shares and fixing the record date. The company said, “The Board of Directors has recommended the issuance of bonus shares to the shareholders of the company in the ratio of 1:2, that is, eligible members will be given one new fully paid-up equity share for every two existing shares as on the record date.” Let us tell you that in the last one year, NBCC’s stock has given a bumper return of 253% to its investors. The share price has increased from Rs 52 to Rs 186 in one year. The company has proposed to issue 90 crore shares as bonus shares. For this, shareholders’ approval is to be taken in the upcoming Annual General Meeting. The board has fixed October 7, 2024 as the record date.
Record date: October 7, 2024
The board has fixed Monday, October 7, 2024, as the record date for determining the eligibility of members to receive bonus shares. The company plans to issue a total of 90 crore equity shares having a face value of Rs 1 each. The bonus shares will be issued from free reserves created out of profits as per the audited financial statements of March 31, 2024, the government company said. The amount of free reserves required for this bonus issue is Rs 90 crore, with the company having a balance of Rs 1,959 crore in reserves and surplus, it said.
Dividend was also announced
The company had earlier fixed September 6, 2024 as the record date for determining the eligibility of shareholders to receive final dividend of Rs 0.63 per equity share for the financial year 2023-24. NBCC has sold 100 per cent of its office and retail inventory worth about Rs 14,800 crore at its World Trade Centre (WTC) at Naoroji Nagar and Sarojini Nagar downtown in New Delhi. Recently, on August 14, NBCC subsidiary HSCC (India) received an order worth Rs 528.21 crore from the Directorate of Medical Education and Research, Haryana.
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