 "NBCC Unveils Ambitious Bonus Share Plan: 1:2 Ratio Approved!")
State-owned NBCC (India) Ltd has announced its plan to issue bonus shares in a 1:2 ratio, meaning eligible shareholders will receive one new fully paid equity share for every two shares they currently hold. The company will allocate Rs 90 crore from its free reserves for this initiative, which requires approval at the upcoming Annual General Meeting. To determine which shareholders qualify for these bonus shares, October 7, 2024, has been set as the record date. NBCC is primarily engaged in project management consultancy and the real estate sector. This strategic move aims to enhance shareholder value by distributing additional shares among existing investors.
State-owned NBCC (India) Ltd recently announced the approval of bonus shares for its shareholders, offering them a ratio of 1:2. This means that for every two shares held, shareholders will receive one additional fully paid-up equity share of Rs 1 each. The company plans to utilize Rs 90 crore from its free reserves to fund this initiative.
In a regulatory filing, NBCC confirmed that the board of directors recommended the issuance of these bonus shares, with a record date set for October 7, 2024. This record date will determine which shareholders are eligible to receive the bonus shares. However, the issuance is still subject to shareholder approval at the upcoming Annual General Meeting.
NBCC is primarily known for its work in project management consultancy and real estate, making this move an exciting development for its investors and the Market at large.
Meta: NBCC approves bonus share issue in 1:2 ratio for eligible shareholders, utilizing Rs 90 crore free reserves. Record date set for October 7, 2024.
Tags: NBCC, bonus shares, India, shareholders, stock Market news, real estate, project management.
What does NBCC’s 1:2 bonus share issue mean?
NBCC is giving bonus shares to its shareholders. If you own 2 shares, you get 1 extra share for free.
How much money has NBCC set aside for this bonus share issue?
NBCC has allocated Rs 90 crore for the bonus share issue.
When will the bonus shares be issued?
The exact date for the bonus shares to be issued is usually announced by the company later.
Who benefits from the bonus share issue?
Current shareholders of NBCC will benefit because they will receive additional shares without having to buy more.
Why does NBCC issue bonus shares?
Bonus shares are issued to reward shareholders and to make shares more affordable for more people by lowering the share price.
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