NBCC board approves 1:2 bonus issue, fixes record date
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The Board of NBCC has approved a bonus issue of shares in a 1:2 ratio, meaning shareholders will receive one additional share for every two shares they currently hold in the company. The board has set October 7 as the record date to determine the eligibility of shareholders for receiving bonus shares. The bonus shares will be issued from free reserves created from profits, as per the audited financial statements for the year ending March 2024. The company has reserves and surplus amounting to Rs 1,959 crore available for capitalization. A company issues bonus shares to increase stock liquidity and lower the stock price, making it more affordable for investors. Bonus shares are fully paid additional shares issued by a company to its existing shareholders at no extra cost. The number of bonus shares received depends on the number of shares already held by the shareholder.All shareholders who own shares of the company before the record date,...