Shareholders of GAIL India are happy as the company has finally announced a bonus issue on its equity shares. The board of directors of the company on Wednesday recommended issuance of bonus shares in the ratio of 1:2. Under the ratio, a shareholder will acquire one new equity share as a bonus on two existing shares. The shares of GAIL are trading at a brisk pace.
GAIL in its regulatory filing said, the board has recommended issuance of bonus shares in the ratio of 1:2 i.e. a new bonus equity share of face value 10 each for two existing equity shares of Rs. 10 each fully paid.
The bonus issue is now subject to the approval of the shareholders at the 38th AGM of the Company to be held on 26 August 2022.
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