IGL board declares bonus shares in a 1:1 ratio; share price rises over 2% | Stock Market News
IGL bonus shares: Indraprastha Gas (IGL), during market hours on Tuesday, December 10, announced that its board of directors considered and approved the issuance of bonus shares in the ratio of 1:1.
This means that IGL investors will get an additional share for every share they hold. The company, however, did not declare the record date for the said bonus issue.
“Board of Directors… approved the 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 ₹2/- each fully paid up for every 1 (one) existing equity shares of face value of ₹2/- each fully paid up, to the eligible shareholders of the Company as on the record date, as may be fixed,” the company said in an exchange filing today.
This is the first-ever bonus share announcement by the city gas distributor (CGD). The said bonus equity shares will be issued out of the sum standing to the credit of free account reserves, the company added. The company has a total balance of ₹8,411.74 crore as free reserves for capitalisation.
The company’s board also approved an increase in authorised share capital from ₹200 crore to ₹1,000 crore.
Stock Price Trend
Following the announcement, IGL share price was trading in the green, up 0.17 per cent at ₹386.20 on the NSE. During the day, the scrip rose 2.2 per cent to ₹394.30 apiece. IGL share price hit a 52-week high of ₹570.35 on September 2, 2024, and a 52-week low of ₹306.10 on November 21, 2024.
In the last one month, the stock has witnessed a 12 per cent decline. Meanwhile, in the last one year, the stock has lost 5 per cent.
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